Stanley Black & Decker sells Excel Industries to Bad Boy Mowers

Stanley Black & Decker, a global leader in tools and outdoor products, has agreed to sell its Excel Industries business to Bad Boy Mowers. The transaction is aimed at refocusing the company's portfolio on its core brands and businesses, particularly those with high-growth potential.

Excel, which produces professional-grade, gas-powered ride-on and zero-turn mowers under the Hustler® brand, is expected to generate approximately $300 million in revenue for the fiscal year 2026. The sale is part of the company's strategy to concentrate resources on areas where it sees the most significant opportunities for growth.

Chris Nelson, President and CEO of Stanley Black & Decker, stated, "The sale of Excel further refines our portfolio and unlocks greater shareholder value by focusing on the areas where we see the most compelling opportunities to grow and win."

Nelson highlighted the company's commitment to the Outdoor business, which includes brands such as Cub Cadet, Dewalt, Craftsman, Troy-Bilt, and Black+Decker. The company remains optimistic about the future, particularly in the realm of electric outdoor products, where it plans to make strategic investments. "We are excited about the high-growth opportunities presented in electric outdoor products, and we will continue to thoughtfully invest in high-performance, residential ride-on and zero-turn mowers," said Nelson.

Bill Beck, President of Tools & Outdoor at Stanley Black & Decker, expressed gratitude to the Excel team for their dedicated efforts. "Our Outdoor business and brands remain a strong asset, with meaningful value and opportunity ahead. As we take this next step, I want to recognize and thank our Excel team members for their exceptional dedication, hard work, and valuable contributions."

Peter Ballantyne, CEO of Bad Boy Mowers, welcomed the acquisition, stating, "We are excited to welcome Hustler and its talented team to the Bad Boy family. We have tremendous respect for the business and the team that has built it over many decades. We look forward to supporting Hustler's continued success as a leader in professional grade mowers."

The transaction, subject to regulatory approval and other customary closing conditions, is not expected to be dilutive to Stanley Black & Decker's adjusted earnings per share (EPS). Until the transaction closes, the results of Excel will remain in continuing operations and will not be reclassified as discontinued operations.

BofA Securities, Inc. is acting as the financial advisor, while Cravath, Swaine & Moore LLP is serving as external legal counsel for Stanley Black & Decker.

Stanley Black & Decker, founded in 1843, is headquartered in the United States and operates globally. With approximately 41,000 employees, the company produces innovative tools, outdoor products, and engineered fasteners. Its portfolio includes well-known brands such as DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®.