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Stanley Black & Decker to Acquire 20% Stake in MTD Products

Peter Neil
Stanley Black & Decker to Acquire 20% Stake in MTD Products

On September 12, Stanley Black & Decker (SWK) announced that it entered into a definitive agreement with MTD Products to acquire its 20% stake. Stanley Black & Decker said that it would pay $234 million in cash to acquire the 20% stake. The company also has the option to acquire MTD Products’ remaining 80% stake after July 1, 2021. The stake would likely enhance Stanley Black & Decker’s existing commercial relationship with MTD Products. The companies manufacture select outdoor products under the “Craftsman” brand.