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Jul 13, 2023

Connecticut pen maker BIC buys temporary tattoo company for $65M

Bic's U.S. headquarters in Shelton, Conn., in February 2019. Pens are among the

Bic's U.S. headquarters in Shelton, Conn., in February 2019.

Pens are among the many consumer products manufactured by BIC: Now the company, which has its U.S. headquarters in Shelton, is expanding its product offerings that involves another use for ink.

BIC is acquiring Inkbox, a Canadian company that makes temporary tattoos, for $65 million. The Toronto-based company was founded in 2015 by brothers Tyler and Braden Handley.

The deal expands a product line that BIC got into in 2019 with the launch of its BodyMark tattoo markers. Gonzalve Bich, BIC's chief executive officer, said Inkbox's temporary tattoos and markers "empower individuals to be their continually-evolving, fluid selves."

"Consumers today crave newness, desire creative freedom and embody authenticity," Bich said in a statement.

Tyler Handley, chief executive officer of Inkbox, said "BIC is the ideal partner to help Inkbox achieve its full scale-up potential, notably through accelerated international expansion."

Inkbox's semi-permanent tattoos can last up to one-to-two weeks and use a patented, plant-based ink formula. Individuals can create customized designs or choose from more than 10,000 artist-designed tattoos.

David Cadden, a professor emeritus at Quinnipiac University's School of Business, said at one time, the temporary tattoo market was focused on tweens, young consumers between 10 and 12 years old.

"It's become more of a big business," Cadden said. "These products are being sold at main stream retailers like Stop & Shop."

BIC officials expect the do-it-yourself skin art market will reach $1.5 billion in value in the next decade. Inkbox reported $27 million in net sales last year.

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