WASHINGTON (dpa-AFX) - Stanley Black & Decker (SWK) announced a definitive agreement to sell its Excel Industries business to Bad Boy Mowers.
Excel, primarily comprising professional-grade, gas-powered ride-on and zero-turn mowers sold under the Hustler brand, is expected to generate approximately $300 million in fiscal 2026 revenue.
Stanley Black & Decker said the transaction will unlock shareholder value while allowing the company to concentrate its Outdoor business on brands including Cub Cadet, DEWALT, Craftsman, Troy-Bilt and BLACK+DECKER.
The company said it remains focused on growth opportunities in electric outdoor products as well as high-performance residential ride-on and zero-turn mowers, with plans to drive organic growth and margin expansion.
The transaction remains subject to regulatory approval and other customary closing conditions. Stanley Black & Decker does not expect the deal to be dilutive to adjusted earnings per share.
Until closing, Excel's results will remain in continuing operations and will not be reclassified as discontinued operations.
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