Sears sells DieHard brand to Advance Auto for $200 million

Sears will still be able to sell DieHard goods in its stores.

FILE - This May 11, 2017 file photo shows a Sears store in Hialeah, Fla.  Sears is closing another 72 stores after reporting a first-quarter losses and plunging sales. The struggling retailer said Thursday, May 31, 2018 that it has identified about 100 stores that are no longer turning profits, and 72 of those locations will be shuttered soon.
–AP Photo/Alan Diaz, File

NEW YORK (AP) — Sears has sold the DieHard car battery brand as the struggling retailer continues to shed assets to raise cash.

The company, created by Sears in 1967, was acquired by Advance Auto Parts for $200 million, the companies said Monday.

Sears will still be able to sell DieHard goods in its stores. And it will still be able to create products for the brand as long as they are not auto-related, like the DieHard boots it currently sells.

Advance Auto Parts said it will sell DieHard auto batteries in its more than 4,800 stores and plans to expand it into batteries for other types of vehicles.

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DieHard was one of the many brands launched by Sears during its more than 130 years in business. But as the company fell on hard times, it’s been shedding some of its famous names to raise cash. In 2017, Sears sold its 90-year-old Craftsman tool brand to Stanley Black & Decker Inc.

Sears, which had 4,000 stores at its peak, sought bankruptcy protection last year and is now owned by Transform Holdco. By early next year, it will operate fewer than 200 stores.

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