Philips to become a global leader in coffee appliances by acquiring Saeco - a leader in espresso machines

     
(27/07/09 08:20 CET)

July 27, 2009

    * 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.

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