Chris Kirubi Just Became Ksh700 Million Richer

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Business mogule Chris Kirubi has landed a fat deal with a French giant Société BIC. The french company has taken over part of Haco Industries Limited operations.

The announcement was made on the firm’s website that it had finalized the takeover estimated at Ksh700 million.

BIC will now acquire manufacturing sites and the distribution business of writing products, lighters and razors which the Kasarani based Company is known for.

On the other hand, Haco will remain with its skin care, home care, and hair care line of business whose brands include Sosoft fabric softener and Miadi shampoo.

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Early this year, Forbes reported that the Kenyan Competition Authority had approved the transaction unconditionally last October.

In August last year, Haco Industries announced that it was relinquishing its manufacturing and distribution rights of BIC stationery and personal care products to French company Société BIC, the original owners of the brand.

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