Philips has acquired the India-based small appliance manufacturer Maya Appliances for an undisclosed sum.
Maya, a kitchen appliance leader in India, makes food prep products, coffee makers, kettles and irons under the Preethi brand.
Philips said the deal would make Philips the clear leader in this fast-growing segment within the Indian domestic appliances market.
Preethi will become part of the domestic appliances business group within Philips’ Consumer Lifestyle sector.
Philips will use Maya’s facilities to manufacture Philips products for India.