Shelton-based lighter manufacturer BIC has acquired Djeep, a French company which makes high-end lighters, for $44.9 million.
The move is expected to strengthen BIC’s position in the European market.
Djeep, founded in 1973, is headquartered in Brittany, France. It reported $15.7 million (14 million euros) in net sales in 2019. While it primarily distributes its products in Europe, it also does so in the United States, Latin America, the Middle East, Africa and Asia.
When BIC announced recently that it was in negotiations to acquire the company, Gonzalve Bich, BIC’s CEO, said the move would strengthen BIC’s leadership in “safety compliant branded pocket lighters.”
“With their unique shape, Djeep lighters are a strong addition to BIC’s existing portfolio,” Bich said. “The combination of Djeep’s creative product design and on-demand production skills with BIC’s iconic lighters and long production runs model will expand both companies’ innovation, marketing, and global manufacturing capabilities.”
According to BIC, Djeep is a key supplier in the decorated lighters market, and its lighters are well-known for their large tank shape and flat push button.
BIC’s leadership hopes the acquisition will help sustain growth by expanding product portfolios for both companies. According to BIC, Djeep’s management has shared its focus on consumer safety, and the acquisition will mean more distribution and growth opportunities.
In addition to making lighters, BIC makes pens and shavers, and distributes its products around the globe.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
