Investor AB is the owner of the Swedish multiracial home appliance company Electrolux.
It is a Swedish investment company and has several subsidiaries that this company controls.
As of writing, Electrolux has turned into a 104 years old appliance brand. Read the article following to learn more about this century-old company’s current and previous owners.
Who is the owner of Electrolux Group?
Electrolux has several owners as it is a public company. However, Investor AB is the primary owner of this home appliance company by owning a 17.9 percent share of the total.
Besides owning 17.9 percent of the total share of Electrolux, Investor AB has a voting right of 30.4 percent. According to the Electrolux Group website, as of December 2022, the company has 17 major shareholders.
For your information, a public company has to have a minimum of seven shareholders or owners. In this case, Electrolux has 17 primary owners, which fulfills the requirement of a public company.
The companies and funds that own Electrolux’s share are:
- Investor AB
- Swedbank Robur Funds
- Handelsbanken Funds
- Alecta Occupational Pension
- Vanguard
- Lannebo Funds
- BlackRock
- Carnegie Funds
- Nordea Funds
- Folksam
- AFA Insurance
- First Swedish National Pension Fund
- Life Insurance Skandia
- AMF Pension & Funds
- Unionen
- AB Electrolux
- Miscellaneous shareholders
Is Electrolux owned by Whirlpool?
Whirlpool does not own Electrolux. Investor AB has owned Electrolux since 1956. On the other hand, Whirlpool Corporation has five subsidiary brands, but Electrolux is not one of them.
Electrolux and Whirlpool sell similar home appliances. Besides, Whirlpool has several subsidiaries, and each of the subsidiaries is as famous as Electrolux.
Therefore, people may have misconceptions about Electrolux and Whirlpool being the same company or being parent and subsidiary companies. But the two companies have two different entities and have no connections.
Besides selling similar products, The Major Appliances Millionaires Club enlisted Electrolux as the second largest home appliance manufacturer in the world after Whirlpool.
Electrolux’s manufacturing capability is nearly equal to Whirlpool’s. Therefore, people are sometimes confused if these two are related even though these two are two different companies.
Is Electrolux owned by GE?
The answer is no. General Electric is not the owner of Electrolux. However, in 2014, Electrolux was the one that was going to acquire General Electric under the company as a subsidiary.
The common thing between General Electric and Electrolux is that both of them are home appliance manufacturers. Besides, the two have a history of contract signing.
On 8 September 2014, Electrolux agreed to sign a contract to acquire General Electric for 3.3 billion dollars in cash. However, Electrolux could not take over the company and had to end the contract in December 2015.
As of 2023, General Electric is under a Chinese multinational corporation Haier. On 6 June 2016, Haier acquired General Electric for 5.6 billion dollars. On the other hand, Investor AB is the owner of Electrolux.
Therefore, Electrolux and GE may have a history together. Electrolux is not a subsidiary company of GE.
Does Electrolux own Maytag?
Electrolux does not have any subsidiary brands. Instead, it is a subsidiary brand of Investor AB. On the other hand, Maytag is a sub-brand of Whirlpool Corporation.
Electrolux may not have any subsidiary brands, but it has collaborated with some brands to sell its products in those brands’ showrooms. The brands with whom the company has joined ventured are:
- AEG
- Electrolux Grand Cuisine
- Electrolux
- Eureka
- Electrolux Professional
- Molteni
- Zanussi
- Westinghouse
- Frigidaire
Though Electrolux sells its products through all these brands, Maytag is not one of them. Maytag sells its products in its showrooms as well as in Whirlpool’s showrooms.
Therefore, besides manufacturing and selling similar products, Electrolux and Maytag do not have any relations.
Source:
- https://www.electroluxgroup.com/en/ownership-structure-392/ – Ownership structure (Electrolux Group)
- https://www.investorab.com/about-investor/investor-s-history/1929-1963/# – Investor AB started investing in Electrolux (Investor AB)
- https://www.wsj.com/articles/ge-terminates-sale-of-appliance-business-to-electrolux-1449474391 – GE and Electrolux contract termination (The Wall Street Journal)
- https://www.electroluxgroup.com/en/share-history-384/ – History of Electrolux (Electrolux Group)
