Stanley Black & Decker has entered into a definitive agreement to acquire Excel Industries for $375 million in cash.
Excel Industries designs and manufactures premium commercial and residential turf-care equipment under the Hustler Turf Equipment (Hustler) and BigDog Mower Co. (BigDog) brands. Located in Hesston, Kansas, Excel has approximately 600 employees and serves approximately 1,400 active independent equipment dealer outlets that stock, sell and service Hustler and BigDog products throughout the United States and Canada. Excel was founded in 1960; it launched the first hydrostatic zero-turn mower in 1964.
“This is a strategically important bolt-on acquisition as we build an outdoor products leader. Excel brings a range of premier, commercial-grade and prosumer turf-care equipment, an extensive dealer network, a talented team and a loyal customer base,” says James M. Loree, Stanley Black & Decker CEO.
In August of this year, Stanley Black & Decker agreed to acquire the remaining 80-percent ownership stake in MTD Holdings Inc., the privately held manufacturer of OPE brands including Cub Cadet and Troy-Bilt, for $1.6 billion in cash.
STANLEY BLACK & DECKER
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