______________

Sponsored by:

www.GREENBEAN-STORE.com
With over 100 coffees, teas, syrups, barista supplies, and more!

______________

Fri Jul 17, 2009 1:34pm EDT

BRUSSELS, July 17 (Reuters) – Dutch electronics manufacturer Philips (PHG.AS) won permission from European Union regulators on Friday to acquire Italian espresso machine maker Saeco International.

The European Union’s executive said that the transaction would not significantly impede effective competition.

“The Commission’s examination of the proposed transaction showed that the products of the two companies do not compete closely with each other and that the combined firm would continue to face several strong competitors with significant market shares,” the Commission said in a statement.

“The Commission’s investigation also found that the merged entity would have neither the ability nor the incentive to close off the market to competing coffee maker manufacturers,” it added.

Source:  http://www.reuters.com/article/americasRegulatoryNews/idUSLH42079820090717

Did you like this? If so, please bookmark it, about it, and subscribe to the blog RSS feed.

Related posts:

1. Coffee Roasters leaving Waterbury, staying in Vermont Green Mountain Coffee Roasters is moving its corporate headquarters from Waterbury, but is staying in...
2. Baristas train at Seattle’s new Coffee Enhancement Lounge This weekend, while some of us were soaking in the great outdoors, a handful of...
3. Will the Hard-Core Starbucks Customer Pay More? The Chain Plans to Find Out As the recession wears on and fewer people are splurging at Starbucks, the coffee chain’s...
4. A Starbucks by any other name: coffee chain strives to boost sales with ’stealth cafes’ The US coffee chain is rebranding at least three stores in its home town of...