Lowe's will begin selling Craftsman products

Lowe's will begin selling Craftsman products in second half of 2018, the company announced in a blog post.

Craftsman's line of tools and equipment will be available in Lowe's (LOW) stores in the U.S. and Canada as well as online. 

Stanley Black & Decker (SWK) purchased Craftsman from Sears Holdings earlier this year in an agreement valued at roughly $900 million including cash and planned annual payments on new sales. The company said at the time that it would sell Craftsman products outside of Sears, though Sears would continue to carry the line.

Craftsman will become available in the second half of 2018, Jeff Ansell, Stanley Black & Decker's president of global tools and storage, said on a call with investors Tuesday. "We have been more than impressed with the level of commitment and support afforded by Lowe's for the Craftsman brand," he said.

In a statement, Stanley Black & Decker CEO James Loree said, "We intend to invest in the brand and rapidly increase sales through these new channels, including retail, industrial, mobile and online. To accommodate the future growth of Craftsman, we intend to expand our manufacturing footprint in the U.S."