RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Jorg Snoeck
In this article
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

Chinese eye up Philips' domestic appliances

icon
Electronics6 January, 2021

Will Philips‘ Senseo and Airfryer appliances fall into Chinese hands? Three Chinese buyers are dominating the sale of Philips’ domestic appliances department. However, other parties have also shown interest. 

 

Three billion euros

Three players are still in the running to take over the domestic appliances department of Philips, according to Dutch newspaper Het Financieele Dagblad. All three bid over three billion euros on the Dutch manufacturer’s irons, Senseo coffee machines, Airfryers and more. The candidate buyers are Chinese investor groups Hillhouse Capital, CDH Investments and Citic Capital. The latter is also linked to the Chinese state-owned electronics holding company TCL.

 

Other acquisition candidates have presented themselves, including major Western investors such as CVC, Apollo and Bain, but they would not have been held to the next round. They may still get the opportunity to raise their bid or join one of the Chinese bidders. Philips does keep its options open: if the sale does not produce the desired result, the domestic appliances department can be taken to the stock exchange.

 

Philips’ domestic appliances department has been on the market since the beginning of 2020, but due to the Covid-19 pandemic, they put the sale temporarily on hold. The selling process got relaunched this autumn. The department employs 6,000 people, working at the R&D department or head office located in the Netherlands, or in Asia, where most of the production facilities are based. Annual revenue is expected to be 2.3 billion euros, with a gross profit of around 260 million euros.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo

Will Philips‘ Senseo and Airfryer appliances fall into Chinese hands? Three Chinese buyers are dominating the sale of Philips’ domestic appliances department. However, other parties have also shown interest.    Three billion euros Three players are still in the running to take over the domestic appliances department of Philips, according to Dutch newspaper Het Financieele Dagblad. All three bid over three billion euros on the Dutch manufacturer’s irons, Senseo coffee machines, Airfryers and more. The candidate buyers are Chinese investor groups Hillhouse Capital, CDH Investments and Citic Capital. The latter is also linked to the Chinese state-owned electronics holding company...

More on Electronics
See more
  • icon
    Electronics15 May, 2023
    MediaMarkt parent Ceconomy: more revenue, less losses

    It has been an encouraging half-year for Ceconomy. The parent of Saturn and MediaMarkt sold more in its shops and cut its losses by more than half.

  • icon
    Electronics24 March, 2023
    Europe to enshrine ‘right to repair’ in law

    The European Commission wants to make 'Right to repair' a European policy. A new proposal should make it easier for customers to have broken items repaired, instead of being forced to replace them.

  • icon
    Electronics27 February, 2023
    Fnac Darty to oust rival Ceconomy?

    Czech billionaire Daniel Kretinsky is hoping to increase his share in French electronics group Fnac Darty. The latter is also keen, as it wants to get rid of the curious situation where rival Ceconomy is also a co-owner.

Events
  • 15
    Jun
    Human Resources & People Congress
  • 29
    Jun
    Food Congress
Most read
  • icon
    Leisure16 May, 2023
    Decathlon launches subscription service in Belgium
  • icon
    General15 May, 2023
    Action launches Belgian webshop
  • icon
    Food30 May, 2023
    1,000 jobs at risk at Carrefour France?
  • icon
    Fashion23 May, 2023
    Zara goes secondhand, Massimo Dutti goes US
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT