BIC picks up smart notebook maker Rocketbook for $40 million

BIC has acquired 100% of Rocketbook, the Boston-based maker of cloud-connected, smart and reusable notebooks and accessories, in a $40 million deal designed to merge each company”™s technology and expertise to “expand the global accessibility of digital writing.”

“This acquisition solves 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,” said Gonzalve Bich, CEO of Shelton-based BIC. “We have admired Rocketbook’s path to success and watched as they have reimaged the everyday notebook.”

Rocketbook was founded in 2014 by Joe Lemay and Jake Epstein.

“Six years ago, Jake and I were sitting in a pub in Boston dreaming about how to make the idea of a reusable notebook a reality,” said Rocketbook CEO Lemay. “We faced huge obstacles and countless skeptics early on because we were working to reinvent a centuries-old industry.

“Through a mix of crowdfunding and some disruptive breakthroughs with material and digital technologies, Rocketbook notebooks have gone on to become top-selling notebooks on Amazon and around the world,” he said. “To come full circle from that moment when we were drafting plans on cocktail napkins to being acquired by BIC, the most innovative brand in this industry, is a dream come true.”

“With BIC”™s support, we can expand our list of retail partners, distribution facilities and global reach,” Epstein said. “Together, we”™re going to do for notebooks what Tesla did for cars.”

Rocketbook has been a rapidly growing company, expanding its line to more than 10 products. Those include the Core and Fusion notebooks, which feature Rocketbook”™s patented reusable technology. The notebooks”™ synthetic paper allows the user to write smoothly with a pen, marker and then wipe the page clean with a damp cloth, enabling them to use the notebook again and again.

Powered by the Rocketbook app, users can send and access their scanned pages in a variety of cloud services, such as Google Drive, DropBox and iCloud. Sold online for less than $40, the Rocketbook Core notebook ranks first in reusable notebooks on Amazon.

Rocketbook reported $32 million net sales in fiscal year 2020, up 35% year over year.

The acquisition enhances BIC”™s positions in the stationery category by entering a new growth segment. The digital writing market is expected to reach approximately $4.8 billion in value by 2025, according to investment bank NFluence Partners, which along with Finn Dixon & Herling LLP advised BIC in the transaction.