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.
Sears spokesman confirmed the unlimited lifetime warranty on Craftsman
hand tools made in the U.S. -- “a hallmark of the brand for generations”
-- will be kept in place.