1. Sears sells Craftsman brand to Stanley Black & Decker for $775 million

    Sears sells Craftsman brand to Stanley Black & Decker for $775 million

    Stanley Black & Decker added to its portfolio Thursday by buying the venerable Craftsman brand from Sears for for $775 million. In October, Stanley Black & Decker bought Lenox American Saw along with other parts of the the Newell Brands tool division for $1.95 billion in cash. That deal also included Newell's Irwin brand. That deal included the 500,000-square-foot Lenox American Saw factory in East Longmeadow, with its 640 employees. A total of 900 people manufacture and market Lenox saw blades and tools in more than 70 countries.

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    1. This will add jobs in the U.S., where we have increased our manufacturing headcount by 40 percentĀ  in the past three years.
    2. Therefore it is too early to comment on integration plans.
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