Tahe Outdoors acquires Bic Sport
On November 20, 2018, the BIC Group announced that it had received an offer to acquire its subsidiary BIC Sport from its competitor, the Estonian Tahe Outdoors Group. The amount of the transaction for the acquisition of the French water sports specialist will be between ?6 and ?9 million depending on the manufacturer's results over the next financial year. The proposal was submitted to BIC Sport's Social and Economic Committee. The transaction is expected to be completed by December 31, 2018.
An important brand portfolio in sliding and kayaking
The BIC Sport and Tahe Outdoors groups operate in complementary activities. While BIC has expertise in windsurfing, polyethylene kayaks, dinghies and stand-up paddles through the SIC and Owbow brands, the Tahe Outdoors group has significant expertise in fiber kayaks with the Tahe and Zegul brands, but also in paddles and equipment with Egalis, Robson and Artistic, as well as in kite-surfing with Core-kite. Founded in 1989 in Estonia, BIC Sport's buyer employs 130 people and has 3 production plants in Estonia, France (Charente) and Germany. BIC Sport, created in 1979, employs 130 people, mainly at its factory in Vannes, Morbihan.
A refocusing for BIC and commercial synergies
BIC's decision to accept the takeover bid from its marine subsidiary reflects its desire to refocus its activities on the historical and highly competitive stationery, lighters and shavers sectors. Synergies should be found in the commercial sector, without affecting sliding employment. On the other hand, a reorganization will result in job losses in the stationery business. "There is a complementarity with Tahe Outdoors, which also manufactures products for water sports. BIC has always supported us for 40 years and BIC Sport is now a profitable company that has grown significantly over the past ten years, but in its strategy, BIC aims to focus on its core business," explains Benoit Tréguilly, the company's communications manager.
The highly productive Vannes plant should benefit from the merger. For years, I have admired the very professional work that BIC Sport has been doing on the advanced technologies used to manufacture its products and on its very powerful distribution network in most countries, particularly in the United States," said Janek Pohla, President of Tahe Outdoors