Sears' iconic brand, Craftsman, is leaving the mothership and being bought by Stanley Black & Decker for around $900 million. This announcement comes on the heals of Sears planning to close 150 Sears and Kmart stores nationwide this year. The deal for the 89-year-old Craftsman brand allows Stanley Black & Decker to manufacture and sell Craftsman products in non-Sears stores. Sears will also continue to sell the Craftsman brand in its dwindling retail stores.
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