Sara Lee (SLE) Enters SENSEO Partnership with Philips (PHG); Will Pay EUR 170M in Deal
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Sara Lee Corp. (NYSE: SLE) today announced it has agreed to enter into a nine-year exclusive partnership with Philips (NYSE: PHG) on Philips-branded consumer coffee systems that will drive innovation and expansion into new markets for its leading SENSEO coffee brand. Sara Lee and Philips currently co-own the brand, with each company having a 50% stake. Under the terms of the agreement, Sara Lee will pay Philips a total amount of EUR170 million.
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