Craftsman brand sold to Stanley Black & Decker

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Typically, to buy a Craftsman product, you have to go to a Sears store. Soon, you’ll be able to buy Craftsman-branded products anywhere.

Sears agreed to sell its iconic tool and outdoor-power-equipment brand to Stanley Black & Decker in a deal that’s valued at $900 million. That means that Stanley Black & Decker will be able to sell Craftsman-branded products through retailers in brick-and-mortar stores and online that aren’t affiliated with Sears. (Only about 10 percent of all Craftsman-branded products are sold outside of Sears stores, according to Sears.)

The agreement allows Sears to continue to sell Craftsman products through a perpetual license.

Tim Perra of Stanley Black & Decker tells Consumers Digest that he expects that the well-known unlimited lifetime warranty for Craftsman’s hand tools will continue.

He didn’t say how soon that Craftsman-branded tools will be available in non-Sears retail outlets.