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[David Graves]

I'm sure a lot of us have Craftsman tools in our collection of tools, all bought at Sears. No longer do you need to seek a Sears store as Stanley Tools has acquired the Craftsman brand from the dieing Sears chain, which will make yet another reason NOT to go to Sears as the likes of Wal Mart and Amazon continue to change the retail model that Sears failed to adjust to. It appears Stanley is on track to dominate the tool market, as they own several other brands also including Mac Tools. See details below from the WSJ ..

Sears Holdings Corp. said it reached a deal to sell its iconic Craftsman brand to Stanley Black & Decker Inc. for about $900 million, as the cash-strapped retailer continues to seek ways to whittle down its debt.

Sears will continue to offer Craftsman-branded products though a perpetual license from Stanley Black & Decker, which will be royalty free for the first 15 years after closing. The deal gives Stanley the rights to develop, manufacture and sell Craftsman-branded products outside of Sears.

Today just 10% of Craftsman-branded products are sold outside of Sears. Stanley Black & Decker said the deal will help boost Craftsman sales in untapped channels.

“We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online,” said Stanley Black & Decker Chief Executive James Loree. Stanley also recently signed a $1.95 billion deal to buy Newell Brands Inc.’s tools business.




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