Philips Kon (EU:PHIA)
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Royal Philips Electronics NV (PHIA.AE) said Thursday it will sell 50% of its coffee machines trade mark Senseo to U.S. company Sara Lee Corp. (SLE) and strengthen the partnership between the two companies under an exclusive framework.
Sara Lee will pay Philips EUR170 million for half of the Senseo trade mark. The Dutch electronics company will book the amount as pre-tax earnings upon closing of the deal, which is expected in the first half of the year.
Philips will also be the exclusive Senseo consumer appliance manufacturer and distributor for the duration of the agreement which runs through 2020.
Senseo coffee machines were launched in 2001 in the Netherlands. They are available in a number of European countries, including Germany, the U.K. and Spain, and are also found in Brazil.
-By Archibald Preuschat, Dow Jones Newswires; +31 20 5715 218; email@example.com