By Virginia Nyambura
French owner of a popular pen brand, Société BIC, and Kenya’s Haco Industries are assessing their partnership that might enable the company to sell its products in East Africa directly.
Kenya’s Haco industry is solely owned by billionaire Chris Kirubi after he bought out South Africa’s Tiger Brands for around 300 million shillings after a disagreement ensued between the partners over company’s strategic direction.
The industry has been the exclusive distributor of BIC products in East Africa for more than two decades now.
Recently, BIC has assimilated subsidiaries to enable distribution of its products in foreign markets.
It stated that Haco operated the manufacturing and distributorship of BIC products in the region and that they were both engaged in discussions of their business relationship in the future.
Haco has agreements with several multinationals to manufacture and sell their brands in East Africa.
Haco is only but one of the several private companies Mr. Chris Kirubi owns.
He also owns an investment firm, Centum, where he has a 30 percent stake and a 45 percent stake in agrochemical firm Bayer East Africa among many other investments.
The private industry company annual net sales are said to be above 1 billion shillings with BIC shavers and pens currently being among Haco’s most valuable products adding to Black Silk and Miadi (hair care).