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NEW BRITAIN, Conn. — Tool maker Stanley Black & Decker Inc. is selling its hardware and home-improvement business to Spectrum Brands Holdings Inc. for $1.4 billion in cash.

The hardware and home-improvement unit makes locksets, hardware and faucets for residential use and includes brands such as Pfister, Baldwin and Kwikset.

Spectrum Brands, based in Madison, Wis., said that the acquisition will broaden its product offerings, which include the Rayovac, Remington and Toastmaster brands.

From wire dispatches and staff reports

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