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IP/10/270

Brussels, 12 March 2010

Mergers: Commission approves acquisition of Black & Decker by Stanley Works

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Black & Decker Corporation by The Stanley Works, both of the USA. The Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Stanley is a global tool manufacturer supplying mainly hand tools, security solutions for commercial applications and engineered solutions for industrial, construction, do-it-yourself (DIY) use. Black & Decker is a worldwide manufacturer focussing on power tools and accessories, hardware and home improvement products, and fastening and assembly-based systems. The parties' activities overlap with respect to hand tools, electric power tools and pneumatic tools.

The Commission's examination of the transaction showed that the parties are active in different product markets. While Stanley makes mostly hand and pneumatic tools, Black & Decker's strength is in electric power tools and the overlaps between the two of them are limited. The market investigation showed that the products offered by the parties do not compete closely with each other and that the combined entity would continue to face several strong competitors with significant market shares.

The Commission's investigation also found that the merged entity would not have the ability nor the incentive to close off rival manufacturers from the market through its increased product portfolio, as it will continue to face significant competition and customers retain ample sources of supply.

The Commission therefore concluded that the proposed concentration would not raise competition concerns.

The proposed acquisition was notified to the Commission for regulatory clearance in the European Economic Area on 5 February 2010.

More information on the case will be available at:

http://ec.europa.eu/competition/mergers/cases/index/m114.html#m_5717


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