Swedish company AB Electrolux, who owns the companies Electrolux and Frigidaire, has bought GE Appliances for $3.3 billion.

"The acquisition, which is our largest ever, strengthens our commitment to the appliance business and also provides Electrolux with the scale and opportunity to accelerate our investments in innovation and global growth," president and CEO of Electrolux, Keith McLoughlin, said.

It seems both parties are amicable after the deal was finished.

"Electrolux is the right global business for our customers, consumers and employees," Jeff Immelt, CEO of GE, said. "GE Appliances' people, valuable home appliances brand, products, distribution, and service capabilities make it a perfect fit with Electrolux and its goal of accelerating growth in the U.S."

The newly combined company is projected to have a total sales of almost $23 billion when Frigidaire, GE and Electrolux are all under the same business, McLoughlin said. He also added that the deal still needs to pass regulatory approval, which it is expected to, and will likely be finalized in 2015.

The acquisition, according to sources in the appliance industry, said the three major brands will probably all be affected, especially when it comes to manufacturing sites and headquarters. Combining GE and Electrolux would likely lessen the number of factories, as well as jobs, needed to make the home appliances.

As USA Today reported, Electrolux and GE unveiled new oven factories within the last year, one in Mempis and GE remodeled its LaFayette, Georgia, site. The production of GE dishwashers takes place in Louisville, while Electrolux has been recently importing their new dishwashers from Solaro, Italy.

Similarly, when Whirlpool bought Maytag in 2005, its executives decided to close multiple factories and Maytag headquarters in Newton, Iowa. Subsequent layoffs also followed.

Unlike Maytage, GE's purchase was not due to lagging sales. After large purchases in other industries like banking businesses and NBC television, GE is now turning its focus back to its infrastructure core. The appliance portion of GE was put up for sale in 2008, but the recession put any potential deals on hold during the financial crisis.

GE also invested $1 billion in over 500 new products and $20 million in upgraded research and development labs.

"GE Appliances is a great business and we are proud of the role it has played in GE's history," Immelt said.