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Stanley Completes Newell Brands, Craftsman Deals
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2025-02-17
Stanley announced that it completed its purchase of the Craftsman brand from Sears for approximately US$900 million in cash. The move, announced Jan. 5, gives Stanley the right to develop, manufacture and sell Craftsman-branded products outside the Sears Holdings and Sears Hometown & Outlet Stores distribution channels. One day after announcing that acquisition, Stanley said it will build a new US$35 million hi-tech factory in the U.S. to expand the Craftsman line.
Stanley announced that it has completed its purchase of the Tools business of Newell Brands for US$1.95 billion in cash. The move — first announced Oct. 12, 2016 — gains Stanley the industrial cutting, hand tool and power tool accessory brands Irwin, Lenox and Hilmor brands.
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