Stanley Black & Decker to acquire Excel Industries
(AP) - NEW BRITAIN, Conn. -- Stanley Black & Decker announced Monday that it has agreed to acquire Hesston’s Excel Industries for $375 million.
Excel is a leading designer and manufacturer of premium commercial and residential turf-care equipment of its brands, Hustler Turf Equipment and BigDog Mower Co. It serves approximately 1,400 active independent equipment dealer outlets that stock, sell and service Hustler and BigDog products in the United States and Canada. The company has approximately 600 employees.
“This is a strategically important bolt-on acquisition as we build an outdoor products leader,” Stanley Black & Decker’s CEO James M. Loree said. “Excel brings a range of premier, commercial grade and prosumer turf-care equipment, an extensive dealer network, a talented team and a loyal customer base.”
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