Wichita, Kansas 2021-09-13 15:15:32 –
Hesston, Kansas (KSNW) —A well-known name for the tool is the acquisition of a Kansas company. Stanley Black & Decker has signed an agreement to acquire Excel Industries for $ 375 million in cash.
Heston-based Excel is Hustler Turf Equipment and Big Dog Mower Co. Manufactures premium lawn mowers and lawn mowers under the brand. Excel has about 600 employees.
According to a news release, Excel’s 2021 revenue is projected to be $ 375 million. The company serves approximately 1,400 independent equipment retailers in the United States and Canada.
“This is a strategically important Bolt-on acquisition to build a leader in outdoor products,” Stanley Black & Decker CEO James M. Raleigh said in a news release. “Excel brings a variety of premier, commercial grade, and prosumer turf care equipment, an extensive dealer network, a competent team, and a loyal customer base.”
According to a Stanley Black & Decker news release, the transaction has been approved by most Excel shareholders. However, normal termination conditions, including purchase price adjustments and the receipt of required regulatory approvals, apply.
Excel Industries sold to Stanley Black & Decker for $375M Source link Excel Industries sold to Stanley Black & Decker for $375M