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Sears sells Craftsman brand to Stanley Black and Decker

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Sears sells Craftsman brand to Stanley in deal that could top $1 billion

Sears sells Craftsman brand to Stanley in deal that could top $1 billion*/

– Sears Holdings will sell its well-known Craftsman tools brand to Stanley Black & Decker, the latest in a recent flurry of moves the retailer is making to generate cash after at least five money-losing years.The agreement announced Thursday calls for Stanley to pay $525 million when the deal closes — expected later this year — and another $250 million after three years, the companies said.New Britain, Conn.-based Stanley will pay Sears a percentage of its new sales of Craftsman products for 15 years, and during that time, Sears will be able to continue selling Craftsman products royalty-free.
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Sears sells Craftsman brand to Stanley in deal that could top $1 billion

Sears sells Craftsman brand to Stanley in deal that could top $1 billion*/

– Sears Holdings will sell its well-known Craftsman tools brand to Stanley Black & Decker, the latest in a recent flurry of moves the retailer is making to generate cash after at least five money-losing years.The agreement announced Thursday calls for Stanley to pay $525 million when the deal closes — expected later this year — and another $250 million after three years, the companies said.New Britain, Conn.-based Stanley will pay Sears a percentage of its new sales of Craftsman products for 15 years, and during that time, Sears will be able to continue selling Craftsman products royalty-free.
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Sears sells Craftsman brand to Stanley Black and Decker

Sears sells Craftsman brand to Stanley Black and Decker*/

– (Bloomberg)—Sears Holdings agreed to sell its Craftsman tool brand to Stanley Black & Decker for about $900 million, marking CEO Edward Lampert’s third move in the past two weeks to prop up the beleaguered retailer with fresh sources of funding.Stanley will pay $525 million at closing and $250 million after three years, the companies said in a statement today.The buyer also will make annual payments on new Craftsman sales for 15 years.
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