WASHINGTON — Stanley Black & Decker will buy Sears’ Craftsman tools division in a deal worth about $900 million.
Stanley Black & Decker said it will expand production of the iconic Sears tool brand, create new manufacturing jobs in the U.S. and further expand sales of Sears tools outside of Sears stores.
“Craftsman is a legendary, American brand with tremendous consumer awareness built on a legacy of producing quality products at a great value,” said Stanley Black & Decker Chief Executive James Loree.
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Sold for a hell of a lot less than Lampert and Berkowitz thought the brand was worth....the cash burn will eat up the cash infusion in a hurry.
ReplyDeleteI was told by a someone from ACE Hardware they would be carrying Craftsmen tools when sears sells off the product line. I notice last summer they were selling craftsman mowers and I saw some power tools there in the tool section.
ReplyDeleteI feel sorry for Sears, but I am glad they are still going to manufacture this line of products. My concern now is what is next? Will it be their appliances as well? I know they they no longer sell electronics at the Salisbury Store.
Lampert will try to sell Kenmore and diehard brands as well. Then comes bankruptcy. Seritage may survive but it's questionable.
Deletemade in china???
ReplyDeleteSears...1886- 2017 R.I.P.
ReplyDeleteAce has been selling Craftsman hand tools for several years.
ReplyDeleteWell, at least this is more positive than negative. Craftsman lives whereas Sears/Kmart slowly sail away!
ReplyDeleteAt one time Sears-Roebuck was the largest retailer in the world. Their management made some bad mistakes and a mom and pop store from Arkansas is putting them out of business.
ReplyDeleteAs long as the warranty agreement is upheld, all is fine with me. I have tons of their tools and it states lifetime guarantee. Now does that mean lifetime of Sears owning or the craftsman brand itself?
ReplyDeleteAnonymous Anonymous said...
ReplyDeleteAs long as the warranty agreement is upheld, all is fine with me. I have tons of their tools and it states lifetime guarantee. Now does that mean lifetime of Sears owning or the craftsman brand itself?
January 6, 2017 at 5:12 PM
It means your lifetime.
12:52 as far as I know they are still made in Baltimore.
ReplyDelete