CHICAGO _ Sears Holdings has inked a licensing deal that will mean the sale of its Kenmore grills in stores beyond Sears and Kmart.
California-based Permasteel will be able to manufacture Kenmore and Kenmore Elite gas grills, grill covers and accessories for distribution at retailers nationwide, Sears said in a news release. Sears, headquartered in suburban Chicago, declined to disclose terms of the deal.
Sears announced in May that it was looking for ways to get more cash from some of its best-known brands by expanding distribution. Last month, the company sold its popular Craftsman tools brand to Stanley Black & Decker for an estimated $900 million.
The licensing agreement with Permasteel is the "first example of our expansion strategy to unleash the power of the Kenmore and DieHard brands globally," Chief Marketing Officer Peter Boutros, said in the news release. Boutros is also head of international business for the Kenmore, Craftsman and DieHard brands.
In the U.S., most Kenmore products are sold only in Sears stores. Water heaters, softeners and disposers are sold at Ace Hardware stores. Sears has wholesale agreements for appliances in some international markets but doesn't currently license the Kenmore brand for major appliances like refrigerators and dishwashers in the U.S., Sears spokesman Larry Costello said in an email.
