Philips announces acquisition of Povos

By Xu Lin
0 Comment(s)Print E-mail China.org.cn, July 12, 2011
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Dutch electronics giant Philips said Monday it had agreed to acquire Povos, a leading Chinese kitchen appliance maker.

 

Philips announces acquisition of Povos

飞利浦宣布正式“牵手”奔腾

 

Dutch electronics giant Philips said Monday it had agreed to acquire Povos, a leading Chinese kitchen appliance maker, in a bid to expand sales in the world's second largest economy. The deal is expected to be completed in the fourth quarter this year.


Hong Shibin, a marketing vice president with the China Household Electrical Appliances Association, said Philips hopes to use the acquisition to expand its product portfolio in China to include a wider variety of small electrical appliances.

Povos President Zhang Yongtao emphasized that the company's brand and team will remain unchanged. The company will merely have a new major stockholder, Zhang said. He added that he wasn't sure of the exact acquisition price.

Hong expressed doubts about the strategy behind the deal. Focusing on kitchen appliance manufacturing is not the best way to develop the company, he said. Povos has to face stiff competition from Midea, Supor and other domestic kitchen appliance brands.

 

荷兰皇家飞利浦电子公司本周一正式宣布,已经同意收购奔腾电器(上海)有限公司,以此来拓展其在世界第二大经济体的销售。该公司是一家生产厨房小家电产品的中国知名公司。此次收购预计将于今年第四季度完成。

对此,中国家电商业协会营销委员会副理事长洪仕斌认为,飞利浦想借势奔腾电器,实现其精品小家电与生活小家电的双拳策略。

奔腾电器总裁张勇涛表示,收购完成后,奔腾现有团队、品牌等不会改变,只是更换一个大股东而已,张勇涛表示自己并不清楚具体的收购金额。

洪仕斌认为,当前,奔腾电器仅靠小家电生产并不是继续发展的最好方式,它不得不和美的、苏泊尔等品牌进行全面竞争。

China's business press carried the story above on Tuesday.

 

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