NEW BRITAIN CT - Stanley Black & Decker (NYSE: SWK) entered into a definitive agreement to sell its Hardware & Home Improvement Group to Spectrum Brands Holdings, Inc. (NYSE: SPB) for $1.4 billion in cash.
Stanley said in July it planned to sell the $940 million unit, which makes residential locksets, residential builder’s hardware and plumbing fixtures under the Kwikset, Weiser, Baldwin, Stanley, National and Pfister brands. Produce lines in builders hardware include cabientry hinges, pulls, latches, and wardrobe pivots. Most of its revenues are reported within Stanley Black & Decker’s Security segment.
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