“In a world that is rapidly changing, the only people who will rule are those who will take risks. In fact, the biggest risk is not taking any risk at all. In a world that is shifting really fast, the only strategy that is guaranteed to fail is not taking risks,” goes one of business mogul Chris Kirubi’s daily quotes, and indeed, he don’t fear taking risks.
French firm SOCIETE BIC has finalised the take over of part of Haco Industries that is owned by business mogul Chris Kirubi.
According to a statement on BIC’s website dated 2019, the deal is worth well over Ksh700 million.
BIC will acquire Haco’s semi-automated production plant located in Kasarani, Nairobi as part of the transaction which the Kenyan firm believes will give it an opportunity to diversify and grow in the regional markets.
The deal comes months after Kirubi regained full control of Haco with the buyback of the 51 per cent stake he had sold to Johannesburg-based Tiger Brands.
BIC will handle the manufacture and distribution of its stationery, lighters and shavers.
The brand currently enjoys the largest market share of ball pens in East Africa.
Haco had been manufacturing and distributing the BIC brand of products for four decades.
The Kenyan company will remain with its skin care, home care, and hair care line of business whose brands include Sosoft fabric softener and Miadi shampoo.
The billionaire also has interests in Capital FM, Centum Investments, UAP Insurance, and Two Rivers Mall.
In his New Year message to Kenyans, Kirubi advised that” One new thought or idea in your self-improvement journey can change your life. Work on yourself and keep pushing for better things.”