Koninklijke Philips N.V.
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Publicatie datum
27 jul 2009 - 08:33
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips to become a global leader in coffee appliances by acquiring Saeco - a leader in espresso machines
Bericht
July 27, 2009
PHILIPS TO BECOME A GLOBAL LEADER IN COFFEE APPLIANCES BY ACQUIRING SAECO - A LEADER IN ESPRESSO MACHINES
• Acquisition allows Philips to expand in the high-growth, high-margin espresso machine market with a strong range of products
• Acquisition of Saeco by Philips has been closed
Amsterdam, the Netherlands – Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it has closed the acquisition of Saeco International Group S.p.A. of Italy, one of the world’s leading espresso machine makers. Set to make Philips a global leader in coffee machines, this acquisition will allow Philips to strengthen its position in the espresso machine market through the addition of an exciting and technologically advanced range of solutions.
Saeco has a comprehensive portfolio of espresso machine solutions, allowing it to enjoy a strong position in all of its market segments. The acquisition of Saeco will significantly strengthen Philips’ coffee machines business, which currently holds a leading position in drip-filter and single-serve (Senseo) products. The espresso machine segment is generally regarded as the most valuable market space within the global coffee appliances market, as it typically achieves double digit sales growth and profit margins.
"Through this acquisition, we are creating a new, dynamic market leader in coffee machines with excellent growth prospects for the future," Andrea Ragnetti, Chief Executive Officer of Philips Consumer Lifestyle said. "It makes total sense for Philips to establish a strong foothold in espresso machines. Our reputed and reliable brand in coffee appliances gives us an excellent position to win in this space. With Saeco, we acquire a company with massive experience and credibility in the espresso machine market and a strong management team which has agreed to stay on following this acquisition. I believe Saeco’s expertise and technical know-how, coupled with Philips’ strong marketing and sales capabilities will
Datum laatste update: 01 september 2024