Stanley Black & Decker Completes Acquisition of Newell Brands Tools Business

Stanley Black & Decker, an S&P 500 global diversified industrial company, announced that it has successfully completed its acquisition of the Tools business of Newell Brands ("Newell Tools") for $1.95 billion in cash. This transaction was originally announced on October 12, 2016.

Stanley Black & Decker's President and Chief Executive Officer, James M. Loree commented, "With the completion of the Newell Tools acquisition, we have further bolstered our presence in the global tools industry. The addition of the extraordinary Irwin® and Lenox® brands extends our reach into the plumbing and electrical trades and adds complementary products to our hand tool and power tool accessories businesses, allowing us to provide our customers and consumers with a more comprehensive, best-in-class offering.  We welcome the associates of Newell Tools to Stanley Black & Decker and look forward to a seamless integration process."