Appliance Wars: $3.3B GE deal pits Electrolux vs. Whirlpool for U.S. dominance

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FILE - In this April 8, 2008 file photo, salesman Hank Pham puts the price on a General Electric (GE) microwave in the appliances section of Howard's Appliance and Big-Screen Superstore in San Gabriel, Calif. Sweden's Electrolux is buying the appliances business of GE for $3.3 billion, boosting its presence on the North American market, the companies said Monday, Sept. 8, 2014. (AP Photo/Kevork Djansezian, File)

Electrolux, the Sweden-based company that makes Frigidaire refrigerators, Electrolux vacuums and other home appliances, has agreed to pay $3.3 billion for General Electric's 12,000-worker home appliance business, including its factory center at Appliance Park in Louisville, Ky., reports the Louisville Courier-Journal here.

The deal makes Electrolux the top rival to Whirlpool (which owns Maytag, KitchenAid, Jenn-Air and others) for leadership of the U.S. home appliance market, says Bloomberg here.  Electrolux will keep using the GE brand under a 40-year deal. Electrolux statement here.