Sears1 is selling their Craftsman brand to the Stanley Black and Decker company. Craftsman was a brand in the greatest American sense of the word, a single label applied to any number of products made by any number of actual vendors to which the "Craftsman" label was applied. At times Stanley Black & Decker2 was the manufacturer of some "Craftsman" branded products.
Techtronic Industries of Hong Kong will likely lose the business of providing power tools to be sold under the "Craftsman" name as Stanley Black & Decker already has the ability to produce power tools. "Craftsman" outdoor power equipment is likely to continue being manufactured outside the Stanley Black & Decker family, provided Stanley Black & Decker cares to keep that line of business going.
Stanley Black & Decker will be paying Sears Holdings 525 million United States dollars now, 250 million USd at the end of 3 years, and a percentage of sales from "Craftsman" branded products for 15 years.