NEW BRITAIN - The Craftsman brand is relaunching with the introduction of 1,200 redesigned tools and other products made by Stanley Black & Decker.
The new line is the result of Stanley Black & Decker’s purchase of the Craftsman brand from Sears Holdings Corp. last year, which gave Stanley Black & Decker the right to manufacture and sell Craftsman products outside of Sears.
The transaction, announced in January 2017, had a net value of around $900 million. Stanley made a $525 million cash payment to Sears Holdings at closing and will make a $250 million payment at the end of the third year. It also will make yearly payments of between 2.5 and 3.5 percent on new Stanley Black & Decker sales of the Craftsman brand through the 15th year.
The new product line includes power tools, equipment and accessories, hand tools, storage and organization solutions, lawn and garden power equipment, mechanics’ and automobile tools.
“For generations, Craftsman has been the brand that helps consumers reach their moment of achievement,” Allison Nicolaidis, chief marketing officer, global tools and storage, at Stanley Black & Decker, said. “With the revitalization of the brand, we’re focused on delivering superior quality tools and products to continue this tradition, like never before. Additionally, it will be easier than ever for our customers to get the tools trusted for generations.”
The Craftsman products will also have a new look, with an updated logo.
“Today’s Craftsman brand revives our long-established pride in top-level quality with high quality products that will make a difference in the lives and jobs of customers,” said Tabata Gomez, vice president of brand marketing at Stanley Black & Decker. “We take pride in understanding what matters and drives our customers, and are proud to continue supporting their doer mentality.”
The Craftsman product sales were started in 1927 focusing on high performance tools, storage and equipment. According to Craftsman’s website, in 1940, the company’s power tool sales increased 1,550 percent since their introduction, and in 1941, various aircraft schools were using Craftsman hand tools to train technicians.
To learn more about the brand visit craftsman.com
Karla Santos can be reached at 860-801-5079 or firstname.lastname@example.org.