Craftsman will now be made and sold by Stanley Black and Decker

End of an era
by Jason Tulio | Jan 8, 2017

When it comes to tools, Craftsman products rank pretty high on the wish lists of mechanics and grease monkeys. Now, the iconic brand is about to undergo a massive change. 

After 90 years of ownership, Sears Holdings has sold the brand to industrial manufacturer Stanley Black & Decker. The new owners will now develop, manufacture, and sell Craftsman products through its own channels. Sears, meanwhile, will continue to source and sell Craftsman through a perpetual license agreement. The brand was sold for approximately $900 million

Continue reading below ↓

"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 president and CEO James M. Loree. "This agreement represents a significant opportunity to grow the market by increasing the availability of Craftsman products to consumers in previously underpenetrated channels. We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online." 

Continue reading below ↓
Recommended Videos

What do you guys think? Will this sale affect the quality of Craftsman products?

Also Read

View other articles about:
PHOTO: Craftsman Official Facebook Page
  • Quiz Results

  • TGP Rating:

    Starts at ₱

    TGP Rating:
    Starts at ₱