Lowe’s adds Craftsman to its hand tool lines

MOORESVILLE, N.C. — Stanley Black & Decker has made a deal with Lowe’s for the retailer to carry the Craftsman brand in all Lowe’s and Lowe’s Canada stores. For Canada, this will include the RONA, Lowe’s, Reno-Depot, Ace, Marcil, Contractor First, and Dick’s Lumber banners, to broaden its customers’ access to the well-known brand. Craftsman-branded products will begin appearing in Lowe’s stores in 2018.

Craftsman was a legacy label of Sears, and in recent years had been licensed in Ace stores in the U.S. top-rated tools and equipment. But Sears, which is in financial difficulties in the U.S., sold off the Craftsman name to Stanley Black & Decker at the beginning of 2017, in a deal estimated to be worth $900 million over the next 15 years.