Stanley Black & Decker, Inc., formerly known as The Stanley Works, is an American manufacturer of industrial tools and household hardware, and a provider of security products. Headquartered in the Greater Hartford city of New Britain, Connecticut,[3] Stanley Black & Decker is the result of the merger of The Stanley Works and Black & Decker on March 12, 2010.[4]
History
The Stanley Works came to existence as a direct result of the 1920 merger of Stanley's Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and the Stanley Rule and Level Company,[5] founded by Frederick's cousin, Henry Stanley, in 1857. DeWalt was acquired in 1960, and sold to Black & Decker. In March 12, 2010 Black & Decker merged with Stanley Works to become Stanley Black & Decker. It’s a wholly owned subsidiary of that company.
During World War II, Stanley Works received the Army-Navy "E" Award for excellence in war production.[6]
In May 2002, the company considered moving its corporate headquarters to Bermuda, but public and governmental outcry forced management to reconsider the move. By August 2002, the company had decided to maintain its incorporation in the United States.
John F. Lundgren was elected as chairman and chief executive officer in 2004, replacing John Trani, a former protégé of Jack Welch at General Electric.
The Hardware & Home Improvement Group, including the Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET brands, was acquired by Spectrum Brands Holdings, Inc. on December 17, 2012.[7]
In July 2016, CEO John F. Lundgren stepped down, with President and COO James M. Loree taking over as CEO.[8]
In July 2022, CEO James M. Loree stepped down, with President and CFO Donald Allan, Jr taking over as CEO.[9] Three years later, Allan, Jr was succeeded by Christopher Nelson as CEO.[10]
Acquisitions
- 1906-7: To strengthen its position in Canada, a tool plant was opened in Roxton Pond, Quebec. The company was officially incorporated as the Stanley Tool Company of Canada, Ltd. on February 7, 1907. The Roxton Pond plant continued operations until 1984.
- 1937: Stanley Works entered the United Kingdom market with the acquisition of J.A. Chapman of Sheffield, England.
- 1946: Stanley Works acquired North Brothers Manufacturing Company in Philadelphia, Pennsylvania.[11]
- 1963: Stanley started operations in Australia as Stanley-Titan when it bought a 50% share of Titan, a subsidiary of BHP.[12]
- 1966: Stanley Works acquired Vidmar Cabinets in Allentown, Pennsylvania.[13]
Business segments and brands
Sources:[35]
Tools
Power tools
- DeWalt – power tools; B & D acquired in 1960
- Guoqiang (GQ) Tools (China) – power tools
- Porter-Cable – power tools; B & D acquired in 2004/2005[36]
- Oldham Saw Company – circular saw blade and wood router bit products; B & D acquired in 2004
Further reading
External links
References
- Company History Stanley Works, retrieved January 9, 2008^
- Stanley Black & Decker, Inc. 2024 Annual Report (Form 10-K) February 18, 2025, retrieved February 19, 2025^
- Stanley Black & Decker Fortune, retrieved 2018-11-25^