Skip to content
Subscriber Only

Stanley Black & Decker to Buy Newell Tools for $1.95 Billion

  • Newell brands getting acquired include Irwin, Lenox and Hilmor
  • Part of strategy to focus on best growth opportunities
Customers shop for power-tools at Lowe’s Home Improvement Center on July 19, 2004 in Brooklyn, NY. Shares of Black & Decker Corp., the largest U.S. power-tool maker, had their biggest gain in more than two decades after second-quarter earnings surged 61 percent on the fastest sales growth since at least 1991. Black & Decker Corp. also owns DeWALT, Delta, and Porter-Cable power-tools.
Photographer: Adam Rountree/Bloomberg
Updated on

Stanley Black & Decker Inc agreed to buy Newell Brands Inc.’s tools business for $1.95 billion in cash, helping the workshop giant push deeper into consumer and industrial equipment.

Stanley will gain the Irwin, Lenox and Hilmor brands as part of the transaction, which is expected to add 15 cents to earnings within a year of its completion. The division generated $760 million in revenue over the past 12 months, according to Newell. It makes everything from industrial saw blades to screwdrivers.