Cello - BIC
BIC INCREASES ITS OWNERSHIP IN CELLO PENS IN INDIA TO 100%
BIC – the global player in stationery bought over Cello pens in India to 100% in December 2015
BIC Group today announces that Cello Group has sold to BIC its remaining equity participation in Cello Pens, allowing BIC to increase its stake in Cello Pens to 100% for an amount of 5.4 bn INR (approximately 74 million euros1).
India is one of the largest and fastest growing stationery markets in the world, driven by increasing consumer purchasing power and literacy rate. Founded in 1995, Cello Pens is the country’s largest manufacturer and distributor of Writing Instruments benefiting from a broad portfolio of quality products and a countrywide, as well as international, distribution network.
Combining the N°2 stationery worldwide leader and the N°1 Indian Writing Instrument manufacturer, this acquisition will help to accelerate Cello Pens growth in India and support its integration within the BIC Stationery Category, with a focus on investing in local manufacturing, safety, and quality.
Bruno Bich, BIC Chairman of the Board said: “Moving to 100% ownership in Cello Pens is an opportunity to reinforce our position as India’s number 1 Writing Instrument brand and to further BIC’s development in Asia. We are confident in Cello Pens’ multicultural management team's abilities to leverage the strong asset that is the Cello brand, driving toward strong mid and long term growth potential”.
- Ball Pens
- Gel Pens
- Metal Pens
- Markers Hi-Lighters
- Signature Series
- Exam Series
- Fountain Pens
- Gift Set