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Stanley Black & Decker To Acquire 20% Stake In MTD Products - Quick Facts


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Stanley Black & Decker To Acquire 20% Stake In MTD Products - Quick Facts


(RTTNews.com) - Stanley Black & Decker ( SWK ) announced a definitive agreement to acquire a 20 percent stake in MTD Products Inc., a privately held global manufacturer of outdoor power equipment, for $234 million in cash. Stanley Black & Decker has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021.

With 2017 revenues in excess of $2 billion, MTD manufactures and distributes lawn tractors, zero turn mowers, walk behind mowers, snow throwers, trimmers, chain saws, utility vehicles and other outdoor power equipment for both residential and professional lawn and garden customers.

Stanley Black & Decker's CEO James Loree said: "This investment in MTD increases our presence in the $20 billion global lawn and garden market in a financially and operationally prudent way. We have always viewed outdoor products as an attractive growth category for us to expand our presence beyond handheld electric products. This transaction gives us the opportunity to do that with a world class partner. MTD has a first-rate management team, talented employees and a mission, values and commitment to innovation that are very closely aligned with our own, and we are excited to move forward with them."


Read the original article on RTTNews (http://www.rttnews.com/2934153/stanley-black-decker-to-acquire-20-stake-in-mtd-products-quick-facts.aspx)


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This article appears in: World Markets , Stocks
Referenced Symbols: SWK



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