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Whirlpool Corp. (WHR) is a leading home appliance company that sells products under Whirlpool, KitchenAid, Maytag, Amana, Jenn-Air, and Consul. The company started in 1908 when Lou Upton sold electric washing machines to Sears.
Upton and his uncle Emory obtained funding three years later in 1911, to begin making a patented, electric motor-driven wringer washer. Upton Machine Co. evolved to Whirlpool Corp three decades later in 1950.
Whirlpool posted a net loss of $305 million on revenue of $16.6 billion in 2024. Its market capitalization was $4.28 billion as of May 2025. Whirlpool has made acquisitions to expand its product line from washing machines to all types of appliances in domestic and foreign markets, raising antitrust concerns in some cases.
Key Takeaways
- Mark Bitzer has held the position of Whirlpool’s CEO since October 2017.
- Whirlpool paid $1.7 billion to acquire its rival, the Maytag Corp, in August 2005.
- The company expanded its European presence by purchasing the Italian appliance maker Indesit Co. in 2014.
Seeger Refrigerator Co. and R.C.A. Stoves and Air Conditioners
- Type of businesses: Refrigerators, stoves, and air conditioners
- Acquisition price: Not available (3-company merger)
- Date of purchase: July 1955
One of Whirlpool’s earliest efforts to expand its product offerings and reach occurred with a merger in 1955. Whirlpool merged with Seeger Refrigerator Co., enhancing Whirlpool’s product line with refrigerators. Whirlpool also acquired the air conditioning and stove businesses of R.C.A. Corp. as part of the deal. The combined companies had assets of $130 million at the time.
Maytag Corp.
- Type of business: Washers, dryers, kitchen, and home appliances
- Acquisition price: $1.7 billion cash and stock
- Date of purchase: March 31, 2006 (completed)
Whirlpool agreed to pay $1.7 billion to acquire its rival, the Maytag Corp., in August 2005. The aggregate value of the deal was $2.6 billion, including about $900 million in Maytag debt. Whirlpool reimbursed another bidder’s $40 million breakup fee due to Whirlpool’s pursuit of Maytag.
Maytag was founded in 1893 in Iowa and had grown into a premier home appliance maker. Whirlpool became the immediate owner of successful brands through the Maytag deal, including Jenn-Air, the maker of microwave ovens, refrigerators, dishwashers, and small appliances. It also became the owner of several divisions of Amana, a popular maker of home appliances.
Important
The U.S. Department of Justice investigated Whirlpool for antitrust violations following the Maytag takeover, but found that the transaction did not threaten competition.
KitchenAid
- Type of business: Kitchen and home appliances
- Acquisition price: Undisclosed
- Date of purchase: Jan. 12, 1985
Whirlpool proposed an agreement with Hobart Corp., part of Dart & Kraft, Inc., in 1985 to acquire the appliance brand KitchenAid. Analysts estimated that Whirlpool paid as much as $170 million for KitchenAid, although the price was undisclosed. KitchenAid was founded in 1919 and manufactures and sells products such as ovens, refrigerators, microwaves, dishwashers, and food processors.
The acquisition was delayed for a year due to an antitrust lawsuit that proved to be unsuccessful. Whirlpool acquired all operations in 1986 except for the dishwasher and trash compactor operations, which were sold to Emerson Electric Co.
Hefei Rongshida Sanyo Electric Co., Ltd.
- Type of business: Home appliances (China)
- Acquisition price: Reported $552 million for 51% stake
- Date of purchase: Oct. 24, 2014
Whirlpool became the majority interest holder, purchasing a 51% stake in China’s Hefei Rongshida Sanyo Electric Company Ltd. in October 2014. Hefei Sanyo is a leading home appliance maker based in China. Whirlpool expanded its reach beyond larger urban areas and into the previously untapped rural Chinese market with Hefei Sanyo, which was renamed Whirlpool China Co. Ltd.
Indesit Company S.p.A.
- Type of business: Home appliances (Europe)
- Acquisition price: Reported $1 billion for 60.4% stake
- Date of purchase: Oct. 14, 2014
Whirlpool acquired a 60.4% controlling stake in the Italian appliance maker Indesit Co. in 2014 for approximately $1 billion. Indesit was founded in 1975 and is known for its washing machines, freezers, and ovens. The deal was completed in cash and debt and took place in the same year Whirlpool made a similar purchase of a majority stake in China’s Hefei Sanyo. The purchase expanded Whirlpool’s presence in Europe.
What Is a Company’s Market Cap?
Market cap is calculated by multiplying a company’s current share price by the outstanding shares. It can be useful in comparing companies within the same sector. Market caps fall into five categories, ranging from micro to mega. Whirlpool is in the mid-cap group with its $4.28 billion May 2025 market cap. A market cap above $10 billion is required to classify a company as a large-cap stock.
What Lawsuit Affected Whirlpool in 2024?
A class action lawsuit was filed against Whirlpool in February 2024 by plaintiffs identified as “Stacy Costa, Nathaniel Guerrero, and Missy Robinson, individually and on behalf of all others similarly situated.” The plaintiffs claim that some refrigerators produced and sold under the Whirlpool, Maytag, KitchenAid, and Kenmore brands are defectively wired and can present an electrocution and/or fire hazard.
Who Is Whirlpool’s Chief Executive Officer (CEO)?
Mark Bitzer has served as Whirlpool’s CEO since October 2017. He joined Whirlpool Europe as vice president in 1999 from his previous role with Boston Consulting Group in Munich and Toronto.
The Bottom Line
Whirlpool Corp. began as the Upton Machine Company in 1908. The company is headquartered in Michigan and sells products under a variety of brands, including Whirlpool, KitchenAid, Maytag, Amana, Jenn-Air, and Consul.
