GE Appliances, a division of the American conglomerate General Electric, was acquired by Haier Smart Home Company, a publicly-traded affiliate of the Chinese multinational company Haier. This significant acquisition took place in 2016.
Details of the Acquisition
The transaction specifically involved General Electric's appliance business, allowing Haier to expand its global presence in the home appliance market. It's important to note that this acquisition was for the GE Appliances division and not for the entire General Electric company.
| Key Aspect | Detail |
|---|---|
| Acquirer | Haier Smart Home Company (an affiliate of Haier) |
| Acquired Entity | GE Appliances (a division of General Electric) |
| Year of Acquisition | 2016 |
| Brand Rights | Haier has the right to use the GE brand name for appliances until 2056. |
Impact and Continuity
This strategic move brought one of America's most recognizable appliance brands under the ownership of a major global appliance manufacturer. Despite the change in ownership, consumers continue to see products branded as "GE Appliances" in the market. The agreement included long-term licensing for the use of the GE brand name, ensuring brand continuity for decades.
This acquisition highlights a trend of global companies expanding their portfolios through strategic takeovers, leveraging established brand recognition and market share.
