Philips has agreed to buy Saeco, the largest maker of espresso coffee machines in Europe.

Philips to buy Saeco espresso maker company

Philips has agreed to buy Saeco, the largest maker of espresso coffee machines in Europe.
The Italian firm, which has around a third of the European market, also manufactures Gaggia and Lavazza coffee makers. Amongst Philips’ range of coffee machines the most high profile is the Senseo coffee pod system.

In a statement, Philips said: “Successful completion of this transaction is, amongst others, subject to Philips reaching a final agreement with Saeco’s banks with which the company has outstanding credit obligations.”

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