Stanley Black & Decker to Sell Excel Industries to Bad Boy Mowers in Strategic Move
In a significant strategic move, Stanley Black & Decker (NYSE: SWK), a global leader in tools and outdoor solutions, has entered into a definitive agreement to sell its Excel Industries business to Bad Boy Mowers. This announcement, made on September 4, 2026, reflects Stanley Black & Decker’s focus on enhancing shareholder value by streamlining its portfolio to concentrate on the burgeoning opportunities within its core brands.
Excel Industries, widely recognized for its Hustler brand of professional-grade mowers, including gas-powered and zero-turn models, is projected to generate approximately $300 million in revenue for the fiscal year 2026. This transaction stands as a pivotal moment for both companies, aiming to capitalise on Excel’s legacy and expertise in turf-care equipment.
Chris Nelson, President and CEO of Stanley Black & Decker, emphasized the purpose of the sale, stating, "The sale of Excel further refines our portfolio and unlocks greater shareholder value by concentrating resources on the areas where we see the most compelling opportunities to grow and win." He reiterated their commitment to innovation in outdoor products through their well-known brands such as Cub Cadet, Dewalt, Craftsman, and Troy-Bilt.
As electric outdoor products are gaining traction in consumer markets, Stanley Black & Decker plans to continue making thoughtful investments in high-performance ride-on and zero-turn mowers, aiming to drive organic growth and enhance margins within this segment. Bill Beck, President of Tools & Outdoor, acknowledged the strong performance of the Outdoor business and thanked the Excel team for their contributions to its success.
Peter Ballantyne, CEO of Bad Boy Mowers, expressed excitement about this acquisition, highlighting Hustler’s solid reputation in the industry. With a history rooted in innovation including launching the first hydrostatic zero-turn mower in 1964 Hustler seeks to strengthen its position in professional-grade mowers under Bad Boy's stewardship.
This transaction, however, awaits regulatory approval and certain standard closing conditions. Notably, Stanley Black & Decker does not anticipate any detrimental impact on its adjusted earnings per share (EPS) resulting from the sale. Until the acquisition finalizes, Excel will continue to be accounted for within Stanley Black & Decker’s ongoing operations.
BofA Securities, Inc. is acting as the financial advisor in this transaction, while Cravath, Swaine & Moore LLP serves as the external legal counsel for Stanley Black & Decker.
Excel Industries operates as a leading designer and manufacturer of high-quality turf-care products, primarily through its reputable Hustler brand, and caters to a vast network across the United States and Canada. Located in Hesston, Kansas, Excel is eager to align with Bad Boy Mowers, setting the stage for future collaboration and growth.
Founded in 1843, Stanley Black & Decker has established itself as a key player in tools and outdoor resources, employing approximately 41,000 people around the globe. The company’s commitment to innovation and quality is reflected through its impressive portfolio of trusted brands, including DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®.
As both companies move forward, this acquisition marks a crucial evolution for Stanley Black & Decker as it seeks to refocus its efforts on expanding its outdoor business and enhancing its brand offerings to adapt to changing market demands. The decision not only reinforces their commitment to growth but also signifies a targeted investment strategy aimed at fostering innovation and maintaining market leadership in the tools and outdoor segments.
Excel Industries, widely recognized for its Hustler brand of professional-grade mowers, including gas-powered and zero-turn models, is projected to generate approximately $300 million in revenue for the fiscal year 2026. This transaction stands as a pivotal moment for both companies, aiming to capitalise on Excel’s legacy and expertise in turf-care equipment.
Chris Nelson, President and CEO of Stanley Black & Decker, emphasized the purpose of the sale, stating, "The sale of Excel further refines our portfolio and unlocks greater shareholder value by concentrating resources on the areas where we see the most compelling opportunities to grow and win." He reiterated their commitment to innovation in outdoor products through their well-known brands such as Cub Cadet, Dewalt, Craftsman, and Troy-Bilt.
As electric outdoor products are gaining traction in consumer markets, Stanley Black & Decker plans to continue making thoughtful investments in high-performance ride-on and zero-turn mowers, aiming to drive organic growth and enhance margins within this segment. Bill Beck, President of Tools & Outdoor, acknowledged the strong performance of the Outdoor business and thanked the Excel team for their contributions to its success.
Peter Ballantyne, CEO of Bad Boy Mowers, expressed excitement about this acquisition, highlighting Hustler’s solid reputation in the industry. With a history rooted in innovation including launching the first hydrostatic zero-turn mower in 1964 Hustler seeks to strengthen its position in professional-grade mowers under Bad Boy's stewardship.
This transaction, however, awaits regulatory approval and certain standard closing conditions. Notably, Stanley Black & Decker does not anticipate any detrimental impact on its adjusted earnings per share (EPS) resulting from the sale. Until the acquisition finalizes, Excel will continue to be accounted for within Stanley Black & Decker’s ongoing operations.
BofA Securities, Inc. is acting as the financial advisor in this transaction, while Cravath, Swaine & Moore LLP serves as the external legal counsel for Stanley Black & Decker.
Excel Industries operates as a leading designer and manufacturer of high-quality turf-care products, primarily through its reputable Hustler brand, and caters to a vast network across the United States and Canada. Located in Hesston, Kansas, Excel is eager to align with Bad Boy Mowers, setting the stage for future collaboration and growth.
Founded in 1843, Stanley Black & Decker has established itself as a key player in tools and outdoor resources, employing approximately 41,000 people around the globe. The company’s commitment to innovation and quality is reflected through its impressive portfolio of trusted brands, including DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®.
As both companies move forward, this acquisition marks a crucial evolution for Stanley Black & Decker as it seeks to refocus its efforts on expanding its outdoor business and enhancing its brand offerings to adapt to changing market demands. The decision not only reinforces their commitment to growth but also signifies a targeted investment strategy aimed at fostering innovation and maintaining market leadership in the tools and outdoor segments.
Topics Business Technology）
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