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

Corporate Action
โดย Insider Monkey·US·Read original
Summary · why it matters

Stanley Black & Decker has entered into a definitive agreement to sell Excel Industries, the unit that includes the Hustler Turf Equipment brand, to Bad Boy Mowers. Excel Industries is expected to generate approximately $300 million of fiscal 2026 revenue, though the purchase price and expected proceeds were not disclosed. The transaction remains subject to regulatory approval and customary closing conditions, and until closing Excel Industries will remain in continuing operations rather than being classified as a discontinued operation. Stanley Black & Decker said it does not expect the deal to dilute adjusted EPS, a company-defined non-GAAP measure that excludes certain gains and charges including divestiture-related items, restructuring, footprint actions, and gains or losses on business sales. The sale advances the company's portfolio-simplification strategy, following the second-quarter sale of Consolidated Aerospace Manufacturing that reduced debt by $1.7 billion, and Stanley Black & Decker acquired Excel Industries for approximately $373.7 million, net of cash acquired, in November 2021. The company plans to keep investing in its Outdoor business, with a remaining portfolio that includes DEWALT, CRAFTSMAN, Cub Cadet, Troy-Bilt and BLACK+DECKER.

Impact on stocks 1

Industrials▲ · 1 stocks
Stanley Black & Decker Inc
SWK
▲ PositiveCapitalrelevance

Stanley Black & Decker agrees to sell Excel Industries, advancing its portfolio-simplification strategy without diluting adjusted EPS.

Off-coverage companies 2

Excel IndustriesPrivate± Mixed
Capitalrelevance

Excel Industries is the unit being sold to Bad Boy Mowers, but the purchase price and proceeds were not disclosed.

Bad Boy MowersPrivate± Mixed
Capitalrelevance

Bad Boy Mowers is the buyer of Excel Industries, but terms of the acquisition were not disclosed.

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