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Craftsman Brand Tools to be Sold to Stanley Black & Decker

January 18, 2017 William Lucus
craftsman logo

Sears' iconic brand, Craftsman, is leaving the mothership and being bought by Stanley Black & Decker for around $900 million.  This announcement comes on the heals of Sears planning to close 150 Sears and Kmart stores nationwide this year.  The deal for the 89-year-old Craftsman brand allows Stanley Black & Decker to manufacture and sell Craftsman products in non-Sears stores.  Sears will also continue to sell the Craftsman brand in its dwindling retail stores.

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In News, Tools Tags tools, Craftsman, Stanley, Black & Decker, Bankrupt, Sears, Handtools, Retail
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