Add-on Acquisition • Consumer Products

Philips Acquires Saeco International Group

On July 1, 2009, Philips acquired consumer products company Saeco International Group from PAI Partners

Acquisition Context
  • This is Philips’ 2nd transaction in the Consumer Products sector.
  • This is Philips’ 2nd transaction in Italy.

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M&A Deal Summary

Date July 1, 2009
Target Saeco International Group
Sector Consumer Products
Buyer(s) Philips
Sellers(s) PAI Partners
Deal Type Add-on Acquisition

Target Company

Saeco International Group

Gaggio Montano, Italy
Saeco is the leading European automatic espresso coffee machines manufacturer. Saeco designs, manufactures and distributes espresso coffee machines (manual or automatic) for home and professional use both under its own brands ('Saeco', 'Gaggia' and 'Spidem') and on behalf of third party.
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Buyer Overview 1

Buyer

Philips

Amsterdam, Netherlands

Category Company
Founded 1891
Sector Consumer Products
Employees67,263
Revenue 18.0B EUR (2024)
DESCRIPTION
Philips office building in Prague, Czech Republic.
Philips office building in Prague, Czech Republic.

Philips is a diversified health and well-being company with products that include cardiac care, acute care and home healthcare, oral healthcare, and male shaving and grooming. Philips was founded in 1891 and is based in Amsterdam, Netherlands.


Deal Context for Buyer #
Overall 12 of 33
Sector: Consumer Products 2 of 2
Type: Add-on Acquisition 9 of 28
Country: Italy 2 of 2
Year: 2009 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-15 Medel

PR, Italy

Medel SpA is a privately-held manufacturer and distributor of home health products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-31 FIMI s.r.l.

Saronno, Italy

FIMI s.r.l. is a provider of dedicated modality monitors, patient monitoring and mobile point of care devices.

Sell €29M

Seller Profile 1

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 28.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


Deal Context for Seller #
Overall 14 of 52
Sector: Consumer Products 2 of 3
Type: Add-on Acquisition 6 of 19
Country: Italy 1 of 2
Year: 2009 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-21 Chr. Hansen A/S

Horsholm, Denmark

Chr. Hansen Holding A/S develops, produces and markets unique and innovative savory solutions (the non-sweet taste spectrum), including flavors, seasoning compounds and functional ingredients for the food industry, with special emphasis on the fields of processed meat and convenience food.

Sell $7M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-10-19 BMI Group

Reading, United Kingdom

BMI Group is a supplier of pitched roofing products. The company manufactures and sells a comprehensive range of concrete and clay tiles for pitched roofs, roofing components, and chimney systems, serving the new build and renovation segments for residential and nonresidential markets. BMI Group is based in Reading, United Kingdom.

Sell -