Stanley/Black and Decker to buy Irwin tools!
Interesting news from the USA! Stanley/Black and Decker who own Stanley, Black and Decker, DeWalt, Porter Cable, and Facom to name a few. Are hoping to own another large part of the hand tooling industry. They’ve put in a $1.95 Billion offer for Newell brands which owns Lenox, Hilmor, Dymo and Irwin tools.
As a result of this bid it’s sent Stanley Black and Decker’s share prices through the roof. But what does this mean to you? And what does this mean to the tools in your tool box? Will they be the same? Will they be as good? Will the tool lines be streamlined? All good questions.
If we take Stanley as an example. When Black and Decker purchased Stanley, they were a world renouned brand and extremely popular; a popularity well earned from years of producing high quality tools. Unfortunately for some, the new company formed streamlined Stanley’s range. Getting rid of less used and more expensive items; including their Yankee driver range, various artisan files, planes, rules, and tapes. Many would say this is updating the company, and is progress to fit a fast passed and innovative industry. Most of the new stanley range of products is built to the same high standard, and is still very popular. With the influx of more in the way of power tools, many would say that Stanley is indeed on the front edge of innovation and is keeping the company current and viable.
Personally, I think Stanley products are still excellent and ever evoloving. If they’re not popular with the customers, why make them? So I believe that Irwin, Lenox, Hilmor and Dymo are in good hands with Stanley Black and Decker. They may get streamlined, but hopefully they’ll be around with their most popular products for another 100 years.
If and when the deal goes through, we shall see what happens with both Stanley and Irwin.