Sara Lee Corp., Senseo single-cup pod coffeemakers, Royal Philips Electronics NV, CoffeeCo, coffee service, OCS business, Jan Bennink
DOWNERS GROVE, IL -- Sara Lee Corp. said it will acquire full ownership of the trademark for Senseo single-cup pod coffeemakers from Royal Philips Electronics NV. Sara Lee is preparing to spin off its coffee and tea business into a separate company called CoffeeCo.
Sara Lee will pay Philips $220.5 million for the current 50% stake the Dutch electronics giant holds in the Senseo brand and Philips will remain the exclusive manufacturer and distributor of Senseo machines through 2020.
Sara Lee and Philips have collaborated on Senseo since 2001, with Sara Lee producing the coffee pods and Philips designing, manufacturing and distributing the single-serve machines. The companies have reportedly sold more than 33 million appliances worldwide to date.
"This acquisition and partnership allow us to strengthen our relationship with Philips to focus on innovation in coffee technology and aggressively push geographical expansion," said Jan Bennink, executive chairman of Sara Lee Corp. "Philips' long history of innovation, combined with superior retail strength in our key markets, makes it the perfect partner to work with as we take Senseo to the next level."