Stanley Black & Decker to buy Sears Craftsman brand for about $900 million

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Stanley Black & Decker SWK, +0.63% said Thursday it has agreed to acquire the Craftsman brand from Sears Holding Corp. SHLD, +7.43% in a deal with a present value of about $900 million. The deal gives Stanley Black & Decker the right to sell Craftsman-branded products in non-Sears retail, industrial and online channels across the U.S. and overseas. "This agreement represents a significant opportunity to grow the market by increasing the availability of Craftsman products to consumers in previously underpenetrated channels," Stanley Black & Decker Chief Executive James Loree said in a statement. Sears shares rose 3.5% premarket on the news, while Stanley Black and Decker was slightly higher.

http://www.marketwatch.com/story/stanley-black-decker-to-buy-sea...

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Lets see, they paid close to a BILLION DOLLARS for this.

This is a solid company. Why would they change the product or wa... (more)

clydestereo (Jan. 10, 2017 @ 9:01p) |

Dewalt brand has gone plastic pretty fast.  Compare older models with whats sold now and the difference is easily recogn... (more)

lotusgardener (Jan. 11, 2017 @ 12:10p) |

Because they believe they can reduce post warranty support

ellory (Jan. 11, 2017 @ 12:18p) |

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aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.

OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

defjukie said:   aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.
  Not necessarily.  Stanley Black & Decker also owns Dewalt and Porter Cable, two pretty solid brands that have maintained their quality.

shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

 "previously underpenetrated channels," 
  

ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  It may end for any new tools sold, but I believe they would have to honor it for any tools previously purchased under the lifetime warranty obligation. I'm pretty sure you can't just cancel a warranty/obligation because of an acquisition. That would be something that happens moreso under bankruptcy procedures.

The better question may be, how convenient will it be to get the tools under warranty replaced? Where will they allow you to do it (if no longer at Sears ), or will they make you mail them in where the cost of shipping is greater than the tool in some cases.

ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  From WSJ : "A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place."  Nothing on any details of the process that might change.

comprx said:   
ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  From WSJ : "A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place."  Nothing on any details of the process that might change.

  okay so the leaf rakes and the nozzle sprayers I bought are made in China so those will be SOL?

defjukie said:   aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.
  
There is a Stanley Tools plant in my hometown.  It has been open my entire life and is still up and running.  They absolutely produce tools right in the USA (at least some!).

ach1199 said:   
  okay so the leaf rakes and the nozzle sprayers I bought are made in China so those will be SOL?

  Were they sold with a lifetime warranty?  Not everything branded Craftsman does.

comprx said:   From WSJ: "A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place."  Nothing on any details of the process that might change.So basically 1 replacement, since the replacement will likely be non-US made.
  

dcwilbur said:   
defjukie said:   aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.
  Not necessarily.  Stanley Black & Decker also owns Dewalt and Porter Cable, two pretty solid brands that have maintained their quality.

  I guess you are not a user of hand tools. Compare tools made before WW2 to those manufactured today by Stanley. Even tools made in the 80's (before Stanley off-shored production) are of better quality.

MDfive21 said:   
 "previously underpenetrated channels," 
  

  
Insert caulk joke here

Seems like enough cash to keep them afloat for maybe another year while Lampert siphons some more profit off em.

defjukie said:   aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.
Sadly for most of the Craftsman line, that ship sailed long ago.

defjukie said:   aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.
  Stanley Black & Decker to open U.S. plant after Trump's 'border tax' threat
http://www.usatoday.com/story/money/2017/01/05/stanley-black-dec...

ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  Stanley has a number of hard-line tools that have lifetime warranties -- Proto, Mac Tools, etc.

ArmchairArchitect said:   
ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  It may end for any new tools sold, but I believe they would have to honor it for any tools previously purchased under the lifetime warranty obligation. I'm pretty sure you can't just cancel a warranty/obligation because of an acquisition. That would be something that happens moreso under bankruptcy procedures.

The better question may be, how convenient will it be to get the tools under warranty replaced? Where will they allow you to do it (if no longer at Sears ), or will they make you mail them in where the cost of shipping is greater than the tool in some cases.

  Most likely Stanley is buying the trade dress, not the actual business unit -- so their obligation to the warranty may not transfer.

ach1199 said:   
comprx said:   
ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  From WSJ : "A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place."  Nothing on any details of the process that might change.

  okay so the leaf rakes and the nozzle sprayers I bought are made in China so those will be SOL?

  They probably never had a lifetime warranty.

Well, even Harbor Freight got life time warranty on hand tools.

ZenNUTS said:   Well, even Harbor Freight got life time warranty on hand tools.
  
^this

Who is buying hand tools that don't have some sort of lifetime warranty? Pretty much every brand offers something like this. And who is breaking so many wrenches that this is actually an issue?

stanolshefski said:   
ach1199 said:   
comprx said:   
ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  From WSJ : "A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place."  Nothing on any details of the process that might change.

  okay so the leaf rakes and the nozzle sprayers I bought are made in China so those will be SOL?

  They probably never had a lifetime warranty.

  yes, they do. 

MDfive21 said:   
 "previously underpenetrated channels," 
  

  
I've curious to know which ones

stanolshefski said:   ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  Stanley has a number of hard-line tools that have lifetime warranties -- Proto, Mac Tools, etc.


I'll be interested in seeing how they position the Craftsman brand. I always liked it because it was a middle ground between HF and higher end stuff like Proto or Mac. Now that most of it is made in China, I just see it as overpriced HF. The Stanley brand (and Black and Decker for power tools) has already been cheapened into that HF competitor from what I've seen.

I bought SK last time I needed something. Biggest downside to that SK, Proto, Armstrong, etc. are impossible to find in a store.

Rec'd this email from Craftsman Club:

Dear NoMoneyInMyWallet,

I'm writing to let you know some exciting news about Craftsman that will enable us to put even more hardworking tools in the hands of makers everywhere. On January 5, Sears Holdings announced that it will sell the Craftsman brand to Stanley Black & Decker.

Craftsman is and has been an important part of the Sears family for ninety years. And that’s not going to change. The research and development team at Sears and Craftsman will continue to develop new innovations that will be available exclusively at Sears and Kmart stores and online. However, as part of this transaction, Stanley Black & Decker will gain the rights to develop, manufacture and sell Craftsman-branded products outside of Sears and Kmart, which will make Craftsman products more broadly available in the USA and internationally.

Craftsman remains committed to maintaining the very best aspects of the Craftsman brand. You'll still find the most high quality tools available at the best value, along with our exclusive lifetime warranty on Craftsman hand tools, which has been a hallmark of the brand for generations.

Sears will continue to have the most extensive range of Craftsman tools and lawn and garden products, along with the same trusted service you rely on. In addition to being sold primarily at Sears and Kmart, Craftsman will soon be available at other retailers nationwide.

Your membership in Craftsman Club will not change and we will continue to provide you with exclusive offers, tips and information to help you with all your projects.

Thank you for your membership and loyalty to Craftsman. We look forward to supporting makers everywhere and providing you with the tools you need for many more years to come.

Sincerely,
Tom Park
President Kenmore, Craftsman, DieHard


 

ach1199 said:   
stanolshefski said:   
ach1199 said:   
comprx said:   
ach1199 said:   
shinobi1 said:   OK, so I buy a Craftsman-branded (whatever) tool at a store other than Sears or K-Mart and later things go sour.

Will Sears still replace the bad tool for free under the Craftsman warranty? 

  I'm pretty sure that the Lifetime Warranty will end now.    Not sure how they'll handle the tools already purchased by the customers?  I need to swap out some of the Craftsman brand hand tools myself for the new ones.

  From WSJ : "A Sears spokesman confirmed the unlimited lifetime warranty on Craftsman hand tools made in the U.S.—“a hallmark of the brand for generations”—will be kept in place."  Nothing on any details of the process that might change.

  okay so the leaf rakes and the nozzle sprayers I bought are made in China so those will be SOL?

  They probably never had a lifetime warranty.

  yes, they do. 

  "With proof of purchase".  Or so I was told last time I tried to get a lawn and garden tool replaced.

ratdog49640 said:   "With proof of purchase".  Or so I was told last time I tried to get a lawn and garden tool replaced.The Craftsman Evolv line requires POP, Craftsman does not.

Lets see, they paid close to a BILLION DOLLARS for this.

This is a solid company. Why would they change the product or warranty?

dcwilbur said:   
defjukie said:   aaaand that's the end of the Craftsman brand. Cheap Chinese crap from now on.
  Not necessarily.  Stanley Black & Decker also owns Dewalt and Porter Cable, two pretty solid brands that have maintained their quality.

  
Dewalt brand has gone plastic pretty fast.  Compare older models with whats sold now and the difference is easily recognizable.

Because they believe they can reduce post warranty support



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