- Provides Entry Into The Lawn And Garden Sector With Minority Stake In Leading Outdoor Power Equipment Manufacturer
- Option To Acquire Remaining 80 Percent Stake Beginning In 2021
Stanley Black & Deckers 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."
"MTD and Stanley Black & Decker are both proven leaders in our respective industries with iconic brands and world class capabilities," said MTD's Chairman and CEO Robert T. Moll. "We're both passionate about innovation with complementary businesses. Ultimately, this will give us more resources to bring really exciting products to our consumers."
Stanley Black & Decker, Inc. - Investor Relations - Press Release
