Electrolux has announced it is to buy General Electric’s home appliances business for $3.3bn in cash.<br /><br />The Swedish company wants to get a stronger foothold in the expanding US market, which is growing faster than in Europe.<br /><br />Electrolux is already the world’s second-largest home appliance maker after Whirlpool, however Electrolux holds the top spot in Europe.<br /><br />By buying General Electric’s Appliances business Electrolux expects to more than double sales in the United States to around $9 bn per year.
