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Stanley Black & Decker Announces Agreement to Sell Excel Industries to Bad Boy Mowers

  • Stanley Black & Decker entered a definitive agreement to sell its Excel Industries business to Bad Boy Mowers.
  • The Excel business primarily consists of professional-grade, gas-powered ride-on and zero-turn mowers under the Hustler brand.
  • Excel is projected to generate approximately $300 million in FY 2026 revenue.
  • The transaction aims to refine Stanley Black & Decker's portfolio to focus on growing its biggest brands & businesses.
  • Stanley Black & Decker plans to continue investing in electric outdoor products & high-performance residential mowers under brands including Cub Cadet, DeWalt, Craftsman, Troy-Bilt, & Black+Decker.
  • The sale is subject to regulatory approval & other customary closing conditions.
  • The transaction is not expected to be dilutive to adjusted EPS.
  • Excel results will remain in continuing operations until the transaction closes & will not be reclassified as discontinued operations.
  • BofA Securities, Inc. served as financial advisor & Cravath, Swaine & Moore LLP acted as external legal counsel for Stanley Black & Decker.
  • Excel operates as a leading designer & manufacturer of turf-care equipment headquartered in Hesston, Kansas, with a legacy dating back to 1964.