Tahe Outdoors are set to purchase BIC Sport with the deal being finalised in late December. As BIC Sports is already a leader within the watersports market, Tahe Outdoors Group will have the ability to expand into new activities giving them the wider market they were looking for.
Press Release. Vannes, 20th November 2018.
BIC Group has received an offer from Tahe Outdoors to purchase its subsidiary BIC Sport. The transaction is expected to be finalized by December 31st 2018 and is consistent with BIC’s strategy to focus on its core activities (of stationery, lighters, and shavers), while the Tahe Outdoor Group has being looking to expand its activities in watersports, making BIC Sport a logical acquisition.
For 40 years the BIC Group has supported BIC Sport, allowing it to become one of the world’s leaders in the watersports markets and to achieve many historical successes. A new chapter begins, and BIC Sport will now be strategically aligned with a company focused on the same core activities: manufacturing and distributing watersports products.
This transaction will lead to the creation of a new and dynamic worldwide player, with unique industrial technologies across a wide range of products and an international network of specialist retailers.
BIC Sport’s products will continue to be manufactured and sold under license, together with the SIC & OXBOW Brands.
“BIC Sport is very pleased to join Tahe Outdoors, one of the market leaders in watersports, a company that shares our vision and values,” stated Thierry Verneuil, President of BIC Sport. “Combining the two companies will create a new and powerful industrial group, with complementary expertise in manufacturing and distribution. It will allow us to propose to our clients a wider range of products, made in Europe and respectingthe principals of sustainable development”.
“For many years I have admired the professional approach of BIC Sport, encompassing both their application of high technology to the manufacture of watersports products and their strength in worldwide distribution, particularly in the USA. I am proud to make this acquisition that will be a win-win at all levels, for all brands managed by the two companies. I am confident in the existing management team to help drive this synergysuccessfully” added Janek Pohla, President of Tahe Outdoors.