Stationery giant BIC have announced that they have reached an agreement to acquire Rocketbook, one of the leading smart and reusable notebook brands in the United States.
Office Supplies Blog understands that the deal will see BIC acquire Rocketbook on a 100% ownership basis, giving BIC complete control of the Rocketbook brand and its range of products going forwards.
The purchase of Rocketbook is considered to be an extension upon BIC’s main strategy to bring high quality, safe, affordable, and essential products to consumers worldwide.
Rocketbook’s current range of innovative products paired with BICs’s industry expertise and overall retail reach is considered by many to provide BIC with new substantial growth opportunities.
Rocketbook’s Impact on the Digital Writing Segment
The Rocketbook brand was founded in 2014 by Joe Lemay and Jake Epstein and quickly became a fast-growing company, with almost $32 million (Approx. £23.9 million) net sales in 2020.
Rocketbook are known mainly for two of their flagship products in Core and Fusion notebooks; digitally enabled notebooks supplied with erasable pens and powered via Rocketbook’s cloud connected application.
A large share of sales for the company’s products came from purchases made through their online store on e-commerce giant Amazon’s website, with the ‘Rocketbook Core Notebooks’ ranking at number one in reusable notebooks on the website at the time of the writing.
BIC Acquiring Rocketbook Solves a Major Challenge for Stationery Consumers
Speaking in BIC’s recent press release, Gonzalve Bich, Chief Executive Officer at BIC, commented on how the Rocketbook acquisition looks to help solve one of the company’s biggest challenges within the stationery sector.
“At BIC, we are focused on reimaging everyday essentials and introducing new products that enhance people’s lives.
This acquisition will solve a major challenge for many stationery consumers, providing a way to write that can be easily stored and shared in a quick, efficient, and environmentally conscious manner.
It allows us to our consumer offering and accelerate our progress toward more innovative and sustainable solutions.”
“BIC was founded on the idea of simplicity and making writing accessible to all, and this is the next evolution of that process – creating a gateway for handwriting to move into the digital age.
We look forward to continuing our work with the Rocketbook team and welcoming them to the global BIC community.”
Co-founders of the Rocketbook brand, Joe Lemay and Jake Epstein echoed the positive sentiments behind BIC’s acquisition, expressing:
“There is a great synergy between BIC and Rocketbook.
BIC’s entrepreneurial spirit, values, vision for the future of the category are aligned with how we work and where we want to go.
We are over the moon about all of the possibilities for the future as we work together to continue to innovate and grow the brand globally.”
Additional Information for When BIC Acquire Rocketbook
Office Supplies Blog understands that the acquisition is based on a structured payment, with an upfront denomination of €34 million (approx. £30.5 million) to be made at the closing period of the deal expected to be towards the end of the year.