, Columnist
Stanley's America-First Tool Deal
Its purchase of Craftsman will add more than just revenue.
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M&A as a job creator? That's something you don't see every day.
Stanley Black & Decker Inc. on Thursday agreed to purchase the Craftsman tool brand from Sears Holdings Corp. in a deal that will eventually amount to about $900 million. Typically, when a company uses an acquisition to expand a business it already owns, job cuts -- sorry "synergies" -- are the focus. Stanley instead touted the American jobs it plans to create as it expands the Craftsman brand to other retailers. That's higher up in the press release than the decent earnings boost it expects to get from the deal. Here's CEO Jim Loree: