Bic Unit Snaps Up Norwood For $162.5M

Law360, New York (June 19, 2009, 12:00 AM EDT) -- In a last-minute maneuver at the auction for Norwood Promotional Products Holdings Inc., a subsidiary of razor, lighter and pen colossus Bic USA Inc. trumped Aurora Capital Group’s stalking horse bid with a $162.5 million offer.

On Friday, Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware approved the sale of the bankrupt promotional products company to BIC Graphic USA, which is now poised to be a leading supplier of promotional goods.

At auction Thursday, the winning bid came in at...
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