Topics

Whirlpool Corp.
Electrolux to buy General Electric's appliance unit for $3.3 billion
Electrolux to buy General Electric's appliance unit for $3.3 billion

Swedish appliance maker Electrolux will buy General Electric Co.'s appliance division for $3.3 billion, the companies announced Monday. Electrolux, which owns the Frigidaire and Eureka brands, is looking to gain market share in North America and globally. It is the largest home appliance maker after Whirlpool Corp., based in Benton Harbor, Mich. Electrolux Chief Executive Keith McLoughlin said the acquisition, the largest ever for the company, provides "the scale and opportunity to accelerate our investments in innovation and global growth." A long-term license agreement with GE will give Electrolux the right to use GE Appliances brand names. The Stockholm appliance...

Loading