Yes, It’s Tooly Happening: Black & Decker Is Buying Competitor for Almost $2 Billion

Oct 12, 2016  •  Post A Comment

Two big tool makers have hammered out a merger deal, as power tool company Stanley Black & Decker Inc. will buy Newell Brands Inc.’s tool business for $1.95 billion, Reuters reports. The acquisition will add brands such as Irwin and Lenox to the Black & Decker lineup.

“Newell’s shares rose 1.8 percent to $51.25 in morning trading on Wednesday, while Stanley Black & Decker gained 1.7 percent to $119.74,” the story reports.

Reuters adds: “Newell, which owns more than 160 brands including Sharpie markers and Rubbermaid food containers, said last week it would divest about 10 percent of its business portfolio to streamline operations following its acquisition of Jarden Corp earlier this year.”


One Comment

  1. Who the hell is Newell Brands?

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