Tractor News Stanley Black & Decker to acquire 20% stake in MTD Products for $234M

[jeff9366]

Stanley Black & Decker to acquire 20% stake in MTD Products for $234M

Stanley Black & Decker (NYSE:SWK) to acquire a 20% stake in MTD Products Inc. for $234M in cash.
As per the agreement, the company also has the option to acquire the remaining 80% of MTD beginning on July 1, 2021.
Stanley Black & Decker's President and CEO James M. Loree commented, "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."
The transaction is expected to close in early 2019.

9/12/2018 6:52 AM

 

[majorwager]

Jeffy,

What impact do you anticipate upon mtd products? Do you believe it will hasten the development of battery powered tractors as you frequently mention?
Should also quote source of press release ??


Probably more of a lawn and garden forum thread under mtd sub-forum ??