From Crain’s Chicago Business (www.chicagobusiness.com), Sears Holdings is selling its Craftsman brand to Stanley Black & Decker, which includes the DEWALT brand.

According to the Crain’s report, Sears told the print and online Chicago-based business publication the value of the deal with different facets included could reach above $1 billion.

Crain’s reports Stanley Black & Decker would get “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.”

For the full story, visit http://tinyurl.com/zazcwdw.