Stanley Black & Decker Completes MTD, Excel deals
By Mike Brezonick01 December 2021
Stanley Black & Decker announced that it has successfully completed the acquisition of two major suppliers in the growing outdoor power equipment industry, including its purchase of the remaining 80% ownership stake in MTD Holdings Inc. and its acquisition of Excel Industries.
The purchase price for the two transactions totaled $1.9 billion inclusive of standard purchase price adjustments, Stanley Black & Decker said.
Stanley Black & Decker said the transactions establish the company as a U.S. based global leader in outdoor products and complement its position as one of the fastest growing providers of cordless electric outdoor power equipment sold under the DeWalt, Craftsman and Black+Decker brands.
“The combination of these two high-quality, complementary businesses with our existing outdoor business creates a powerful growth engine with approximately $4 billion in annual revenue across the $25 billion-plus outdoor power equipment industry,” said Stanley Black & Decker CEO, James M. Loree. “These transactions will be accretive to our 2022 earnings and have the potential of further margin expansion as we integrate these great businesses.
“Combined, this is a platform well positioned for growth and to lead the electrification of outdoor products with a strong portfolio of iconic brands, industry-leading innovation and extensive engineering and manufacturing capabilities. In addition, the acquisitions add deep customer relationships in retail and more than 2500 independent equipment dealer outlets serving the professional category. We welcome the 8100 associates from MTD and Excel to Stanley Black & Decker and look forward to a seamless integration process.”
MTD is a supplier of lawn mowers, snow blowers, trimmers and outdoor power equipment for both residential and commercial markets. Founded in 1932 with its headquarters in Valley City, Ohio, MTD brands include Cub Cadet, Troy-Bilt, Robomow, Rover and Wolf-Garten.
Founded and based in Hesston, Kan., Excel manufactures premium commercial and residential turf equipment under the Hustler Turf Equipment and BigDog Mower Co. brands.