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News & Insights

Stanley Black & Decker’s Acquisition of the Craftsman Brand from Sears Holdings

January 05, 2017

On January 5, 2017, Stanley Black & Decker and Sears Holdings Corporation announced that they have entered into a definitive agreement under which Stanley Black & Decker will purchase the Craftsman brand from Sears Holdings. The transaction provides Stanley Black & Decker with the rights to develop, manufacture and sell Craftsman‑branded products in non‑Sears Holdings retail, industrial and online sales channels across the U.S. and in other countries. As part of the agreement, Sears Holdings will continue to offer Craftsman‑branded products, sourced from existing suppliers, through its current retail channels via a perpetual license from Stanley Black & Decker, which will be royalty‑free for the first 15 years after closing and royalty‑bearing thereafter. Cravath is representing Stanley Black & Decker in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes partner Thomas E. Dunn and associates Mark Mushkin, Cameron S. Stanton and Justin B. Stein on corporate matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Stephen L. Gordon and associate Joyce Y. Kim on tax matters; partner Eric W. Hilfers and practice area attorney M. C. Tania Balthazaar on executive compensation and benefits matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; and partners George E. Zobitz and Paul H. Zumbro on bankruptcy structuring matters. Ammanuel G. Gebeyehu, Brian C. Mulhall and Caleb B. Rosser also worked on corporate matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Intellectual Property
  • Tax
  • Executive Compensation and Benefits
  • Financial Restructuring and Reorganization
  • Consumer Products and Services

People

Photo
Name
Robert I. Townsend III
Title
Corporate
Title
Partner
Email
rtownsend@cravath.com
Phone
+1-212-474-1964
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    Education

    • J.D., 1990, Harvard Law School
      magna cum laude
    • A.B., 1987, Harvard College
      magna cum laude

    Admitted In

    • New York
    Photo
    Name
    Thomas E. Dunn
    Title
    Corporate
    Title
    Partner
    Email
    tdunn@cravath.com
    Phone
    +1-212-474-1108
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      Education

      • J.D., 1992, Duke Law School
        summa cum laude
      • B.A., 1987, The College of William & Mary

      Admitted In

      • New York
      Photo
      Name
      David J. Kappos
      Title
      Corporate
      Title
      Partner
      Email
      dkappos@cravath.com
      Phone
      +1-212-474-1168
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        Education

        • J.D., 1990, University of California, Berkeley, School of Law
        • B.S., 1983, University of California, Davis
          summa cum laude

        Admitted In

        • New York
        • California
        • District of Columbia
        Photo
        Name
        Eric W. Hilfers
        Title
        Executive Compensation and Benefits
        Title
        Partner
        Email
        ehilfers@cravath.com
        Phone
        +1-212-474-1352
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          Education

          • J.D., 1998, University of Chicago Law School
            with Honors
          • A.B., 1995, Princeton University

          Admitted In

          • New York
          Photo
          Name
          Matthew Morreale
          Title
          Corporate
          Title
          Partner
          Email
          mmorreale@cravath.com
          Phone
          +1-212-474-1534
          vCard
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            Education

            • J.D., 1997, Columbia Law School
              Harlan Fiske Stone Scholar
            • M.S., 1994, University of Pennsylvania
            • B.A., 1990, University of Pennsylvania
            • B.A.S., 1990, University of Pennsylvania

            Admitted In

            • New York
            Name
            George E. Zobitz
            Title
            Corporate
            Title
            Partner
            Email
            jzobitz@cravath.com
            Phone
            +1-212-474-1996
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              Education

              • J.D., 1995, New York University School of Law
                with Honors, cum laude
              • B.A., 1991, Franklin & Marshall College

              Admitted In

              • New York
              Photo
              Name
              Paul H. Zumbro
              Title
              Corporate
              Title
              Partner
              Email
              pzumbro@cravath.com
              Phone
              +1-212-474-1036
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                Education

                • J.D., 1997, Columbia Law School
                  Harlan Fiske Stone Scholar
                • B.A., 1992, Yale College
                  Distinction in Major, cum laude

                Admitted In

                • New York
                Photo
                Name
                Annmarie M. Terraciano
                Title
                Corporate
                Title
                Senior Attorney
                Email
                aterraciano@cravath.com
                Phone
                +1-212-474-1366
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                  Education

                  • J.D., 1998, Columbia Law School
                    Harlan Fiske Stone Scholar
                  • M.S., 1994, University of Wisconsin - Madison
                  • B.A., 1989, Wellesley College
                    cum laude

                  Admitted In

                  • New York
                  Photo
                  Name
                  Stephen L. Gordon
                  Title
                  Tax
                  Title
                  Retired Partner
                  Email
                  gordon@cravath.com
                  Phone
                  +1-212-474-1999
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                    Education

                    • J.D., 1981, Harvard Law School
                      cum laude
                    • A.B., 1978, Cornell University
                      cum laude

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