By Jamie Barrie S tanley Black & Decker which was founded back in 1843 as The Stanley Works is expanding its product and brand offering again. The Fortune 500 American manufac- turer of industrial tools and household hardware and provider of security products and locks headquartered in New Britain, Connecticut just opened up its wallet rather than its tool bag and is buying Newell Brands’ tools division for $1.95 billion in cash.
Brands’ tools division Anchored by four powerful global brands – Irwin®, Lenox®, Hilmor® and DYMO®.
The sale of tools division of Newell Brands’ follows an announcement that the company will be selling several divisions as part of a consolidation move by Newell Brands’. The move to sell business units comes a year after Newell Brands’ bought Jarden Corp, which was U.S. consumer products company for about $13 billion and Elmer’s, whose brands include Elmer’s®, Krazy Glue®, and X-Acto®, is the leading provider of activity-based adhesive and cutting products that inspire creativity in the classroom, at home, in the office, in the workshop and at the craft table for $600 million. Newell Brands said that the consolidation move will transform it from a holding company to an operating company with a new set of investment priorities and a sharpened portfolio.
This purchase will see Stanley Black & Decker take control of the Newell
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SPOTLIGHT ON BUSINESS • NOVEMBER 2016
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