GE Appliances is closing in on $1B deal for its appliance business
GE Appliance Parts and Appliance Repair is closing its acquisition of PCRichards appliances.
GE said Tuesday it is closing on the deal after acquiring the PCRichard brand in 2014.
The deal would give GE Appliant Parts and appliances the opportunity to grow in a more efficient way, while also benefiting from the expertise of the PCRobards design team, according to a statement from the company.
“The acquisition will create a better product offering, better service and better value for our customers, employees and shareholders,” GE Appliation Chief Executive Tom Hayes said in a statement.
“We will continue to invest in our business and create value for all customers and employees.”
GE also announced a $4.9 billion merger with PCRobarts on Tuesday.
The companies said the deal will create one of the world’s largest brands in appliance repair.
The combined company will offer consumers a wide variety of PCRobart-branded products, including PCRicharts, PCRobates and PCRobatronics, as well as a range of accessories and repair services.
PCRichands brands include the PC-1 and PC-2 line of refrigerators and fans.