NEW BRITAIN, Conn. & HOFFMAN ESTATES, Ill. ― Stanley Black & Decker has announced it will purchase the Craftsman brand from Sears Holdings. Under the deal, Stanley Black & Decker will acquire the rights to develop, manufacture, and sell Craftsman-branded products outside of Sears stores in the U.S. and in other countries. Sears Holdings will continue to sell Craftsman products, sourced from existing suppliers, through its current retail channels via a perpetual license from Stanley Black & Decker. For the first 15 years, the license will be royalty free, then 3% thereafter. The total value of the deal will be about $900 million. Stanley Black & Decker intends to increase significantly sales of Craftsman through retail, industrial, and online channels.
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