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STANLEY AGREES TO SELL TAYLOR RENTAL FRANCHISE OPERATIONS

 NEW BRITAIN, Conn., May 24 /PRNewswire/ -- The Stanley Works today announced that it has entered into an agreement for SERVISTAR Corporation to acquire the franchise operations of Taylor Rental
Corporation, a Stanley subsidiary. Terms of the sale were not announced.
 SERVISTAR is the parent company of Grand Rental Station, a cooperative of 260 rental stores throughout the U.S. These stores, together with the 228 Taylor Rental Center franchise locations, will make SERVISTAR the largest general rental chain in the U.S.
 According to Richard Dandurand, president and general manager of Taylor Rental Corp., "Under the acquisition agreement, Taylor Rental Centers will retain the Taylor name. Each qualified franchisee will be offered membership in a cooperative licensing program. As a result, both Taylor Rental and Grand Rental Station retailers will share the advantages of added resources that will help them grow, while continuing to pursue strong, separate marketing programs."
 Mr. Dandurand noted, "During the past several years, Stanley has sharpened its business focus and concentrated its energies on achieving worldwide leadership as a manufacturer and marketer of tools, hardware and specialty
hardware. The changes at Taylor Rental reflect this strategy. For the near future, Stanley will retain ownership of company-owned stores; however it is Stanley's intention to offer these stores for sale to interested buyers."
 Taylor Rental Corporation and The Stanley Works are headquartered in New Britain, Connecticut. SERVISTAR headquarters are located in Butler, Pennsylvania.
 -0- 5/24/93
 /CONTACT: Patricia McLean, manager, corporate communications of The Stanley Works, 203-827-3833/
 (SWK)


CO: Stanley Works; Taylor Rental Corporation ST: Connecticut IN: SU: TNM

LR -- NY020 -- 1551 05/24/93 09:11 EDT
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Publication:PR Newswire
Date:May 24, 1993
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