More than 50 years ago, Sears launched DieHard, an auto battery designed with extra starting power and a reputation for performance and durability under difficult conditions.
On Monday, the retailer’s parent company announced the sale of DieHard to Advance Auto Parts for $200 million, in a deal that provides cash for a company having its own difficulties.
Under the all-cash transaction announced Monday, Transformco, the parent company led by Edward Lampert that owns Sears and Kmart, still will have rights to sell DieHard products under a supply agreement with Advance Auto Parts.
The deal also includes an “exclusive royalty-free, perpetual license” that would give the retailer permission to develop and market DieHard items outside of automotive categories.
