Billionaire businessman Chris Kirubi sold BIC to French conglomerate Société for Ksh714 million


Forbes Magazine is reporting that businessman Chris Kirubi made about €6.3 million (Ksh714 million) from selling the BIC brands East Africa franchise to French conglomerate Société BIC last year.

Kirubi’s consumer goods manufacturing company Haco Industries has held the the exclusive franchise for BiC products in the East African region for over 40 years.

Haco Industries first announced in 2018 that it was relinquishing its manufacturing and distribution rights of BIC stationery and personal care products to Société BIC. Société BIC are the original owners of the brand.

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Haco Industries manufactures soaps, beauty lotions and pasta. it is 100% owned by Kirubi, who is also the largest shareholder in Centum Investments, a Nairobi Stock Exchange-listed investment company.

Forbes’s report comes barely a week after Kirubu launched the Centum Investments owned Eye of Kenya at the Two Rivers Mall in Nairobi. The 60-metre-high wheel, dubbed Eye of Kenya, has 40 capsules each sitting an estimated six passengers.