Procter and Gamble and De’Longhi agree Braun licensing deal

Procter and Gamble has agreed a licensing deal for its high-profile Braun brand that will allow the company to increase the focus on its personal care appliance business.

The group has reached a deal for the licensing of the Braun brand to De'Longhi for use within the small kitchen appliance, ironing and selected household appliance categories.

It will encompass a perpetual right to use the Braun brand and connected patents, as well as the transfer of certain production assets, inventory and staff members, though ownership of Braun remains with Procter and Gamble.

The deal could be worth more than 200 million euros (163.57 million pounds) and will aid both companies in pursuing their corporate strategies.

Dimitri Panayotopoulos, vice-chairman of Procter and Gamble, said: "This will allow us to focus our in-house capabilities against driving and expanding our presence in the rapidly-developing beauty and grooming appliance space."

Earlier this month, Procter and Gamble also announced a seven percent dividend increase, marking the 56th consecutive year of dividend rises.