Sears’ parent company sells DieHard car battery brand
A Sears’ private brand with a lot of history, more than 50 years worth, has been sold for $200 million cash on hand.
Raleigh, N.C.-based Advance Auto Parts acquired the trusted DieHard brand of auto batteries from Hoffman Estates, Ill.-based Transformco (the parent company of Sears and Kmart) to sell in its automotive retail locations, although Advance Auto Parts has agreed to allow Transformco to sell DieHard batteries through its existing locations. Essentially, the auto battery is no longer exclusive.
Advance Auto Parts does have visions of extending the DieHard brand into other automotive categories in the store, according to Tom Greco, president and CEO, Advance Auto Parts. However, the deal between the companies also includes an agreement to allow Transformco to develop, market and sell non-automotive DieHard products.
“We are excited to acquire global ownership of an iconic American brand,” Greco said. “DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category.”
Sears filed for bankruptcy in October 2018 and was then bankrolled by Eddie Lampert, owner of Kmart. The DieHard automotive products included battery chargers for cars, jump starters, tires, flashlights, work apparel and more.
Peter Boutros, President of Transformco’s Kenmore, Craftsman and DieHard business units, said about the deal: “DieHard revolutionized the automotive battery category when it launched in 1967, and has continued to be a leader in the category. Advance Auto Parts’ acquisition of this iconic American brand will complement our plans to introduce new DieHard products in non-automotive categories such as sporting goods, lawn and garden, authentic work wear and other exciting new categories.”