Craftsman was an old and respected brand of tools in the United States for many decades. The CRAFTSMAN trademark was registered by Sears, Roebuck and Co. on May 20, 1927, after they bought the rights to use it from the Marion-Craftsman Tool Company for $500. Sears never made their own CRAFTSMAN tools, but instead had them made under contract by various other companies. They were sold from the Sears catalog and in their stores.
When Sears was acquired by K-mart in 2005, the Craftsman brand continued to be sold in both stores, though quality noticeably diminished.
In March, 2017, Stanley Black & Decker purchased the Craftsman brand from Sears Holdings for a total of $900 million. All CRAFTSMAN wet/dry vacuums were manufactured by Stanley Black & Decker. The original company, called the Stanley Works, was founded in 1843 in New Britain, CT, and still has its headquarters there.
At some point after that acquisition, manufacture of CRAFTSMAN brand wet/dry vacuums seems to have been moved over to Emerson Tools, which is a subsidiary of Emerson Electric. Emerson had previously been manufacturing other CRAFTSMAN brand products, such as bench and stationary tools (tools with the "113" model prefix) since Emerson purchased the King-Seeley company in the 1960s that had previously manufactured CRAFTSMAN tools under the 113 model prefix.