Stanley Black & Decker To Acquire Remaining 80% Stake In MTD Holdings For $1.6 Billion, Creating Global Leader In Outdoor Products

Stanley Black & Decker today announced that it has agreed to acquire the remaining 80 percent ownership stake in MTD Holdings Inc. (“MTD”), a privately held global manufacturer of outdoor power equipment, including Cub Cadet® and Troy-Bilt®, for $1.6 billion in cash. Stanley Black & Decker acquired a 20 percent stake in MTD in 2019.We have worked directly with MTD over the last 3 years and have been impressed with the quality of the management team, their talented employees and MTD’s relentless dedication to innovation in the outdoor space,” said Stanley Black & Decker's CEO James M. Loree. “The combination of businesses will create a global leader in the $25 billion and growing outdoor category, with strong brands and growth opportunities that align with two market trends driving our business – the consumer reconnection with the home and garden and electrification. We have clearly identified multiple levers to drive growth and margin expansion and are looking forward to welcoming MTD’...