I live in the home town of Menards corporate and the general knowledge from former buyers is that Menards power tools look like the competitors and in most cases are made by the same manufactures as the others.
Menards in house brand is all about costing less than the competitors. Sometimes that means better buying deals but other times that means different internal components. It many cases they look exactly the same except for color and it's impossible to tell the difference without tearing apart the products.
In other words if you are willing to buy a container load just about all of these manufactures will put your name on the tools.
On the positive side Menards has quietly added name brand tools that you knew and loved over the years but have disappeared from the big box store shelves. Yes, they still have their in-house cheap brands like Tool Shop but they have also have "old" name quality brands like C.M.T., Vermont American, and made in America tools that you can't find anywhere else.