Advance Auto Parts Inc. on Dec. 23 said it bought automotive battery brand DieHard from Transform Holdco LLC for $200 million in cash.
Transform, which acquired Sears Holdings Corp. out of bankruptcy in February, had been reportedly considering a sale of its DieHard brand and other assets following interest from buyers.
With this acquisition, the Virginia-based auto retailer expects to extend the DieHard brand into other automotive and vehicular categories, apart from selling the batteries.
The deal also allows Illinois-based Transform to sell DieHard brand batteries through its existing channels by way of a supply agreement with Advance Auto Parts.
In addition, Transform secured an exclusive royalty-free, perpetual license to develop, market, and sell DieHard branded products in non-automotive categories such as sporting goods, lawn and garden, and authentic workwear.