Stanley Black & Decker announces it successfully completed its purchase of the Craftsman Brand from Sears Holdings Corp.

“We are pleased to complete the purchase of the Craftsman Brand, a legendary American brand with tremendous consumer awareness built on a legacy of providing reliable products at a good value and standing behind them,” Stanley Black & Decker President and CEO James M. Loree said. “We will invest in the brand with a focus on quality, innovation and U.S. manufacturing with the goal of rapidly increasing sales through new channels and will provide more information on our distribution plans as they are developed.

Craftsman has a rich legacy as an iconic brand within U.S. in power and hand tools as well as storage products. The breadth of brands under the Stanley Black & Decker umbrella will provide even more solutions to the end user.