BIC buys Cello’s writing arm

BIC Group, the stationery, lighters and razors business, has agreed to acquire a 40 per cent stake in Cello Pens, the Cello Group’s writing instruments business, for €124 million (£117 million) in cash.


BIC Group, the stationery, lighters and razors business, has agreed to acquire a 40 per cent stake in Cello Pens, the Cello Group’s writing instruments business, for €124 million (£117 million) in cash.

BIC Group, the stationery, lighters and razors business, has agreed to acquire a 40 per cent stake in Cello Pens, the Cello Group’s writing instruments business, for €124 million (£117 million) in cash.

The deal will be funded through debt and gives BIC a call option to increase its stake to 55 per cent at a price based on Cello Pens’ future performance.

Cello Pens is India’s largest manufacturer and distributor of writing instruments, with 37 per cent market share and a presence in Africa, the Middle East and Asia.

The 40 per cent stake gives BIC access to the fast-growing Indian market, which is in line with its expansionist ambitions of developing its business in new regions and strengthening its position in emerging markets.

Bruno Bich, BIC chariman, said: “One of the reasons for the success of BIC’s strategy since the beginning has been to build an international presence. India is one of the largest and fastest-growing markets in the world. This partnership with the number-one Indian writing instruments company is a tremendous opportunity. It will reinforce the long-term prospects for both BIC and Cello Pens and generate value for our shareholders.”

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

Related Topics