http://www.wsj.com/articles/sears-sells-craftsman-brand-to-stanley-black-decker-1483623215
Sears Holdings Corp. said it reached a deal to sell its iconic Craftsman brand to Stanley Black & Decker Inc. for about $900 million, as the cash-strapped retailer continues to seek ways to whittle down its debt.
Sears will continue to offer Craftsman-branded products though a perpetual license from Stanley Black & Decker, which will be royalty-free for the first 15 years after closing. The deal gives Stanley the rights to develop, manufacture and sell Craftsman-branded products outside of Sears.
Sears Holdings Corp. said it reached a deal to sell its iconic Craftsman brand to Stanley Black & Decker Inc. for about $900 million, as the cash-strapped retailer continues to seek ways to whittle down its debt.
Sears will continue to offer Craftsman-branded products though a perpetual license from Stanley Black & Decker, which will be royalty-free for the first 15 years after closing. The deal gives Stanley the rights to develop, manufacture and sell Craftsman-branded products outside of Sears.