gistfile1.py

import sqlite3
from collections import defaultdict

DATABASE = 'C:/Misc/myscripts/workprototype/workprototype.db'

conn = sqlite3.connect(database=DATABASE)
curs = conn.cursor()

prod_dict = {}
curs.execute('select name, desc from companies')
for name, desc in curs:
    prod_dict[name] = {'products': [], 'description': desc}

curs.execute(
    'select c.name, p.name, p.desc '
    'from companies c '
    'inner join products p using (co_id)')
for co_name, prod_name, prod_desc in curs:
    prod_dict[co_name]['products'].append(
        {'name': prod_name, 'description': prod_desc})