 On January 5, 2017, Stanley Black & Decker announced its intent to acquire the Craftsman brand in a deal with a total value of $900 million (with an up-front payment of $525 million, and a payment of $250 million after three years).Sears will hold a royalty-free license to the Craftsman brand for a 15-year period after the completion of the sale, and will receive a royalty on all new Craftsman sales over this period.Afterwards, Sears will pay Stanley Black & Decker a 3% licensing fee.