Stanley Black & Decker buys Craftsman

[Jaxwagen]

Why wouldn't they... They didn't buy the brand to demolish it.

Wise words

 

[B_Bimmer]

Re: Sears sells Craftsman brand to Stanley for about $900 million

Probably going to replace Blackhawk tools, as I've been saying all along. Doubt it will replace/compete with Proto or Mac. Blackhawk has little to no name recognition (probably the least well known tool brand sold by SBD), and craftsman has a ton.

Also, the quote you provided seems to state that a fair amount, if not all, will be made in the USA. Interesting....

I hope you are right, that would be a good fit and allow Blackhawk to justify a far broader scope of automotive specialty tools like sears had back in the day. This is far and away the best possible outcome for craftsman. Sears has been a train wreck for a long time and I am glad to see at least one legendary brand saved from the ashes. I actually have hope for craftsman again. I might be able to buy my kids first craftsman set with as much confidence in their future as when I bought mine. Next step is for the "china era" tools to become a odd collectible, just a blip in a long proud US made history. Just like the japanese ones.

 

[franzdom]

So then how does Sears survive as a brick and mortar entity? Is this the end of Sears for good?

The writing is on the wall.

 

[Danglerb]

Re: Sears sells Craftsman brand to Stanley for about $900 million

Mac is a truck brand, Proto industrial like Graingers, Craftsman is currently Sears with a limited subset at Ace and OSH. Hard to more than guess on what will happen, but at least HF didn't buy them.

 

[T45]

...maybe good for the Craftsman brand depending on where Stanley decides to position it. If it becomes their premium brand, great.

Stanley already has proto and facom, there's no way that cman will ever be a "premium brand".

What they can do is position it as a non-throwaway brand (which is where it belongs, IMHO). The key component is going to be getting COO issues sorted out--producing in USA and at worst Taiwan.

Craftsman would have a lot more value (vs Tekton and HF) if you coulc buy the tools and assume 100% not made in China.

 

[franzdom]

Re: Sears sells Craftsman brand to Stanley for about $900 million

Sears will be licensing the name, does that mean there will be dual lines? Like Sears Craftsman and Stanley Craftsman???

 

[T45]

Re: Sears selling Craftsman to Stanley

This part is good

Hopefully the 40% increase wasnt from 10 to 14 accountants at corporate HQ

 

[T45]

Re: Sears selling Craftsman to Stanley

The one thing about this to keep in mind is that stanley has a relationship with walmart -- selling stanley brand -- will be interesting to see if that channel takes on cman/usa or just how they tier the brands for domestic USA retail...

 

[tjpavlov]

http://www.wsj.com/articles/sears-sells-craftsman-brand-to-stanley-black-decker-1483623215

Wall Street Journal article indicates that Sears will continue to sell Craftsman for 15 year without paying royalties.

Also, the warranty is going to be honored by the new owners.

 

[tjpavlov]

What I wonder about is what will happen to the existing power tool lines.

Nextec hasn't seen a new tool come to market in years.

Bolt on is made by Stanley I believe so that will most likely remain.

C3 I don't know about. Isn't the OEM Ryobi?

 

[The Hot Rod Grille]

Re: Sears selling Craftsman to Stanley

Just announced they are closing 150 stores. Most in small out of the way towns I believe.

Not just "small, out of the way towns". The store and automotive department in Charleston, WV is closing. It is located in one of the largest urban malls east of the Mississippi River in West Virginia's Capitol City.

 

[Spdfreak91]

Now imagine if they didn't produce or try to reinvent any of their gimmick tools and just went back to the hardlines. Could put me in anaphylactic shock.

 

[bcradio]

Re: Sears sells Craftsman brand to Stanley for about $900 million

Thanks OP. I'll be first in line to buy my membership to Sears.

 

[6PTsocket]

Re: Sears sells Craftsman brand to Stanley for about $900 million

This would appear to be the purchase of only a name since Sears/Craftsman never made anything. While I have had little use for Craftsman for many years those that bought it had a LOT of floor apace devoted to it at the local Sears with a big selection to maybe justify the trip. It is improbable that any retailer would devote that kind of space to the brand. Ace hardware does sell it now but it is nothing like a Sears store with Craftsman lawn tractors, air compressors and tool cabinets. I see it as a shadow of what it is now. Stanley may be planning to continue to outsource the big stuff but now has a known brand name to sell large products under. Stanley sold off Delta right after they boore ught B&D. What does Sears mean by a membership model? BJ, Costco, Sams? That will definitely be the end. Costco is super well managed with guys that have many years running this type of operation. Sears.com is a total mess. Sears just invested in some other kind of store that is attached to my local Sears. They seem to be shooting in all directions. What's next to go, Kenmore? Does Stanley have to make anual payments if Sears goes belly up? Stanley knows how to make money but this one leaves me scratching my head.


Sent from my SM-G900V using Tapatalk

 

[WWheeler]

Now imagine if they didn't produce or try to reinvent any of their gimmick tools and just went back to the hardlines. Could put me in anaphylactic shock.

I hear ya!

If they were to do that with a 'USA' on the tools, I'd probably buy full new complete sets of every size wrench ratchet and socket they make.

 

[Grandpa's tools]

Sears sells Craftsman Brand

Hello folks,
This is my first post, although I have been following along here for several months. I have been thoroughly enjoying all the information and pictures found here! Today, though, I have a heavy heart. I have been reading that Sears has sold Craftsman to Stanley/ Black and Decker. I have been a Sears and Craftsman fan all my life, and in fact, that's where the "Grandpa's Tools" name comes from, as most of his "good" tools were C-man while I was growing up. I know most of us feel that the new stuff doesn't have the quality that the old stuff did, and I hope this is an appropriate topic in this forum... and I know this may be a strange (over?) reaction, but I really almost feel like there's been a death in the family. Guess I'm interested to hear you other Craftsman fan's feelings. Thanks again for all the great topics here, I'm looking forward to joining in.

 

[Parrothead]

So then how does Sears survive as a brick and mortar entity? Is this the end of Sears for good?

They don't.

This however buys them time to survive past July, which was in question with suppliers backing out and them hemorrhaging cash. They needed to make it until the end of July before bankruptcy to keep the SEC from launching an investigation regarding the loans/collateral offered by Lampert.

Kenmore is next...

 

[tjpavlov]

They don't.

This however buys them time to survive past July, which was in question with suppliers backing out and them hemorrhaging cash. They needed to make it until the end of July before bankruptcy to keep the SEC from launching an investigation regarding the loans/collateral offered by Lampert.

Kenmore is next...

Well, it is interesting that this deal is spread over 15 years. A big payment at closing, a big payment in three years, and royalties paid back to Sears for 15 years.

How would this work with a liquidation event? Perhaps they really are angling to make Sears an online-only store. Or maybe just keep some sort of skeleton operating to collect that revenue for the next decade.

 

[NUTTSGT]

Here is the other thread: http://www.garagejournal.com/forum/showthread.php?t=349323

Threads merged.

 

[bmwpowere36m3]

Re: Sears sells Craftsman brand to Stanley for about $900 million

Sears will be licensing the name, does that mean there will be dual lines? Like Sears Craftsman and Stanley Craftsman???

Confusing, as the article states Sears will continue to sell Craftsman tools and have a royalty-free license for the next 15 years.

I'm assuming it means they'll sell the line, like HD sells Rigid... however Sears can "use" the Craftsman name for the next 15 years (maybe marketing purposes).

 

[bczygan]

Re: Sears sells Craftsman Brand

Hello folks,
This is my first post, although I have been following along here for several months. I have been thoroughly enjoying all the information and pictures found here! Today, though, I have a heavy heart. I have been reading that Sears has sold Craftsman to Stanley/ Black and Decker. I have been a Sears and Craftsman fan all my life, and in fact, that's where the "Grandpa's Tools" name comes from, as most of his "good" tools were C-man while I was growing up. I know most of us feel that the new stuff doesn't have the quality that the old stuff did, and I hope this is an appropriate topic in this forum... and I know this may be a strange (over?) reaction, but I really almost feel like there's been a death in the family. Guess I'm interested to hear you other Craftsman fan's feelings. Thanks again for all the great topics here, I'm looking forward to joining in.

Welcome to GJ!

Remember that "fan" is short for fanatic. So just try and let it go.

Bill

 

[fluid power]

Stanley Black & Decker buying Craftsman brand from Sears

Interesting Read.

Doesn't appear to affect the in store tools.

http://tinyurl.com/hfkufu8

 

[NUTTSGT]

Well, it is interesting that this deal is spread over 15 years. A big payment at closing, a big payment in three years, and royalties paid back to Sears for 15 years.

How would this work with a liquidation event? Perhaps they really are angling to make Sears an online-only store. Or maybe just keep some sort of skeleton operating to collect that revenue for the next decade.

I'd venture to say "shuffling papers" and Lampert hoping that Stanley/B&D will default so he can make some angle into their pockets.

 

[Grandpa's tools]

Re: Sears sells Craftsman Brand

Sorry, DAC, I scanned pg 1 of the vintage tools forum, and didn't see any topics related to this before I posted, I must have missed them.

And thanks for the welcome, Bill!

 

[jacked_72]

Re: Craftsmen going to Black and Decker?

As opposed to what? They're below HF quality right now.

 

[Super Sport]

Re: Craftsmen going to Black and Decker?

There's at least 3 other threads on this already, but I think it's actually a promising outlook for the brand given other possibilities.

 

[GarageXXI]

If Stanley is able to produce American Made Craftsman tools, I will be back to buy more tools from them.

I grew up on Craftsman as a kid/teenager, but can't get myself to buy their non-American produced tools nowadays.

 

[EOC_Jason]

What I wonder about is what will happen to the existing power tool lines.

Nextec hasn't seen a new tool come to market in years.

Bolt on is made by Stanley I believe so that will most likely remain.

C3 I don't know about. Isn't the OEM Ryobi?

I forgot the name but it's another company that makes the tools for both Ryobi and Craftsman...

Really I think a lot depends on how Stanley/B&D wants to focus the product line... B&D already has a lot of cheap cordless power tools that you see in Walmart... I don't see them expanding the C3 line to all the products Ryobi has, but hopefully they will continue to come out with newer and better things as other companies do, especially with brushless motors and more power.

If they do start selling in Walmart, I can only expect quality to take even more of a dive... So cheap that the factories in China will outsource it to some place that can make it for even less... lol.

 

[openwheelracing88]

stanley sells a ton of **** as well.....

 

[Super Sport]

Re: Sears sells Craftsman Brand

As far as I'm concerned, the good ol' "Craftsman" died when they sent production of their hard-line tools to Asia back around 2012. Stanley B&D makes tools that are already comparable in quality, so there's no real loss there.

 

[NUTTSGT]

Re: Craftsmen going to Black and Decker?

There's at least 3 other threads on this already, but I think it's actually a promising outlook for the brand given other possibilities.

4 threads merged so far, this topic might make a GJ record for merged threads.



EDIT: excuse, make that 6.

now 7.....8...9, 10, 11 or 12

 

[Doohickey]

For all those allergic to non US made tools:

"To accommodate the future growth of Craftsman, we intend to expand our manufacturing footprint in the U.S. This will add jobs in the U.S., where we have increased our manufacturing headcount by 40% in the past three years."

-James Loree, Stanley Black& Decker CEO

http://www.chicagotribune.com/business/ct-sears-sells-craftsman-stanley-20170105-story.html

Can't this be interpreted in different ways? A few possibilities:

1) Apex Tools makes many foreign Craftsman tools. Stanley drops Apex, and starts making those same items in the USA.

2) Western Forge makes many USA Craftsman tools. Stanley drops WF, and starts making those same items on their own in the USA.

3) WF continues manufacturing USA Craftsman tools for Sears, but Stanley makes new versions of those same items to supply other retailers.

 

[ckm]

I guess this may be a good sign because it means that some Craftsman tools may return to being decent quality again (I'd assume that production of some things may go to the same factories as Blackhawk/Proto once contracts run out) but they could also take the brand down the road of Black and Decker. We will have to see...

Stanley owns Proto as well: http://www.stanleyblackanddecker.com/products-services/tools-storage

Edit: Ninja'd by rct

 

[Flattie]

It's Official - Craftsman sold to SBD

Craftsman hand tools has been sold to Stanley Black and Decker. Tools will still be carried in Sears stores (if you can find one). They are closing 150 stores. Probably little hope of bringing them back to MADE IN the USA. We can hope and dream...

http://www.wsj.com/articles/sears-sells-craftsman-brand-to-stanley-black-decker-1483623215

 

[ASRoff]

Re: It's Official - Craftsman sold to SBD

Damn beat me too it by 1. minute! LOL!

 

[sberry]

Re: Craftsmen going to Black and Decker?

As opposed to what? They're below HF quality right now.

I agree with this,,, ha Its been their problem, they wanted to race to the bottom instead of holding their position.
The local store is moving and ditching Kmart, they will stay as they are the only appliance store in town. Tools ate terrible there.

 

[Tdubyac]

Re: It's Official - Craftsman sold to SBD

Been thinking about upgrading my old c3 batteries to li-on, think it might be time to invest in some Milwaukee instead.

 

[Parrothead]

Re: It's Official - Craftsman sold to SBD

Craftsman hand tools has been sold to Stanley Black and Decker. Tools will still be carried in Sears stores (if you can find one). They are closing 150 stores. Probably little hope of bringing them back to MADE IN the USA. We can hope and dream...

http://www.wsj.com/articles/sears-sells-craftsman-brand-to-stanley-black-decker-1483623215

Damn beat me too it by 1. minute! LOL!

Um, there are already two other posts/threads about this...missed by more than a minute.

 

[WWheeler]

Can't this be interpreted in different ways? A few possibilities:

1) Apex Tools makes many foreign Craftsman tools. Stanley drops Apex, and starts making those same items in the USA.

2) Western Forge makes many USA Craftsman tools. Stanley drops WF, and starts making those same items on their own in the USA.

3) WF continues manufacturing USA Craftsman tools for Sears, but Stanley makes new versions of those same items to supply other retailers.

A lot of Stanley's Dewalt line of power tools are 'made in USA from global materials' and has been expanding in that area in recent years - and especially marketing it as such with the USA flag logo on products & packaging - after having been moving production away from the US for a decade or so.

So I'd add to that the possibility that Stanley's plans with this Craftsman purchase to "expand our manufacturing footprint in the U.S. This will add jobs in the U.S., where we have increased our manufacturing headcount by 40% in the past three years" may be more focused on their cordless and corded power tool lines, and less so if at all on the hand tools. I'm just sayin'

 

[lightning02]

Re: It's Official - Craftsman sold to SBD

Been thinking about upgrading my old c3 batteries to li-on, think it might be time to invest in some Milwaukee instead.

i had the same choice to make. i went with milwaukee m12 line to replace all my CM power tools. glad i did. wish the m12 batteries where cheaper but thats the only down fall. tools have performed great so far and are alot smaller and lighter then my CM stuff.