RMB aids acquisition of Nigeria’s Lucky pen by South Africa’s BIC

The Nigeria arm of Rand Merchant Bank (RMB) is responsible for advancing the market share of Société BIC SA (BIC) in the country, having served as the financial advisor that guided Celplas Industries Nigeria in the sale of its pen manufacturing division, Lucky Stationery Nigeria Ltd.

The financial institution deployed a multiphase approach that delivered an optimal transaction structure between Celplas and BIC.

It was gathered that BIC and Celplas had been in discussion over the acquisition of Lucky Stationery Nigeria Ltd. but the sale required substantial restructuring of BIC’s business in the country, RMB was able to help with.

“This transaction further strengthened BIC’s global leadership in terms of pen manufacturing and market share and it also invigorated Nigeria’s stationery sector by introducing new, innovative products and market competition,” RMB explained in a statement made available to the public.

Why this matters: As stated by RMB, this transaction between Celplas Industries Nigeria and Société BIC SA (BIC) would help in restructuring the pen manufacturing business by reshaping the products if need be. BIC may now introduce new, innovative products so as to compete effectively in the market.

About BIC: The company’s products are inexpensive disposable ballpoint pen mass-produced and sold by Société Bic of Clichy, Hauts-de-Seine, France. It was introduced in December 1950 and is the best-selling pen in the world – the 100 billion was sold in September 2006.

About Celplas Industries Nigeria: One of the largest manufacturers of coolers in Africa with a market share of 60%, Celplas specializes in products ranging from furniture to other packaging materials. The company’s clientele includes Coca Cola, Heineken, Guinness, Malta and Fayrouz.

About RMB: Rand Merchant Bank (RMB) is a diversified financial services brand encompassing Investment Banking, Fund Management, Corporate Banking and Advisory Services. Rand Merchant Bank, a division of FirstRand Bank Limited, is an Authorised Financial Services Provider and Credit Provider.

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