Stanley Black & Decker Inc (SWK.N) said on Thursday it would buy Sears Holdings Corp's (SHLD.O) Craftsman tool brand for $900 million, strengthening its portfolio of hand and power tools.
Struggling Sears, whose shares were up 10.8 percent at $11.48 before the bell, said in May it wanted to expand the business housing its Craftsman, Kenmore appliance and DieHard vehicle battery brands beyond Sears and Kmart stores.
The Craftsman line includes power tools such as saws and drills and hand tools such as wrenches and screwdrivers as well as lawn mowers, barbecue grills and other gardening equipment.
http://www.reuters.com/article/us-sears-divestiture-stanley-black-idUSKBN14P1FI
Struggling Sears, whose shares were up 10.8 percent at $11.48 before the bell, said in May it wanted to expand the business housing its Craftsman, Kenmore appliance and DieHard vehicle battery brands beyond Sears and Kmart stores.
The Craftsman line includes power tools such as saws and drills and hand tools such as wrenches and screwdrivers as well as lawn mowers, barbecue grills and other gardening equipment.
http://www.reuters.com/article/us-sears-divestiture-stanley-black-idUSKBN14P1FI