NEW BRITAIN, Conn. -- Stanley Black & Decker has announced that it has completed its purchase of the Craftsman Brand from Sears Holdings Corp.

“We are pleased to complete the purchase of the Craftsman Brand, a legendary American brand with tremendous consumer awareness built on a legacy of providing reliable products at a good value and standing behind them,” said Stanley Black & Decker’s president and chief executive officer, James M. Loree. “We will invest in the brand with a focus on quality, innovation and U.S. manufacturing, with the goal of rapidly increasing sales through new channels and will provide more information on our distribution plans as they are developed.

Stanley Black & Decker will focus on U.S. manufacturing, using global materials, to expand the Craftsman brand. The company believes it can bring innovation and investment back to Craftsman, making it stronger than ever before. Craftsman has a rich history, high consumer awareness, purchase intention and loyalty. Sears will continue sourcing, marketing and selling Craftsman-branded products in their stores, independent from Stanley Black & Decker.

For more information see www.stanleyblackanddecker.com.