Pictured above is the same wallboard saw, sold at Menards. Subtle differences set them apart. The picture below illustrates these differences.
Package design is a start, SBD Craftsman is replendent in solid red, where as Sears Craftsman uses gradient style packaging and logo. On the back of each, one is distributed by "Sears Brands Management" in Hoffman Estates, IL whereas the other indicates Stanley Black & Decker registered trademarks.
The Sears version of the wallboard saw has the Sears model number embellished in the handle, which is the only difference in the tool itself.
Both include a sheath with a red Craftsman logo on it, and both are made in China.
Since I don't speculate in my posts, contrary to some tool blogs, my intentions of writing this is to show that Craftsman is Craftsman, regardless of where it's made or where it's sold.
I have noticed this in other packaging at other retailers, such as fixed wrench sets at Farm & Fleet, and a mechanics tool set sold at Love's that someone posted a picture of.
I shake my head when I read in groups "this looks like the Sears variation of Craftsman" or "Craftsman tools at Lowes are made in China". To me these arguments are irrelevant. It's Craftsman.
In summary, the wallboard saw is the exact same saw, with one having SBD packaging and one in Sears packaging. Once the packaging is removed, it's the same saw in my toolbox. Both cut through drywall just fine, and I am proud that they are Craftsman!
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Opinion