October 24, 2017 - 1:41 PM
BOUCHERVILLE, Que. - The Craftsman brand of tools — once owned by the Sears group of companies — will be coming to Rona, Lowe's and other home renovation stores across Canada.
Tool-maker Stanley Black & Decker bought the Craftsman brand from Sears Holdings Corp. in March for US$900 million in cash.
Lowe's announced Tuesday that it will begin to sell Craftsman products at its stores across Canada and the United States starting in 2018.
In Canada, Lowe's owns the formerly independent Rona chain of home-improvement stores, as well as other corporate and dealer banners that include Lowe's, Reno-Depot, Ace, Marcil, and Dick's Lumber.
The transfer of Craftsman to Stanley Black & Decker comes as Sears Canada is preparing to wind up its retail operations through a court-supervised liquidation.
The Canadian department store chain and its American affiliate, Sears Holdings, were once known for selling a broad range of products including power tools, small and major appliances, furniture, apparel and services.
News from © The Canadian Press, 2017