REPORTS STANLEY BLACK & DECKER LOOKING TO BUY MTD

According to reports in the U.S Stanley Black & Decker is negotiating to acquire MTD Products, Inc., whose brands include Cub Cadet, Yard Machines, Troy-Bilt, Robomow and others.

The company bought a 20% stake in MTD back in 2018, with the deal at the time allowing an option to buy the remaining 80 percent of the privately held firm beginning on July 1, 2021.

American trade magazine, OPE Business, this week reported on a recent earnings call, where Stanley Black & Decker CEO James Loree said, “Our option to acquire the remaining 80% of MTD opened up at the beginning of this month. This opportunity is exciting as we bring leading brands and capabilities in the electric outdoor category as well as the ability to deploy the SBD operating model and apply our global scale. MTD brings superb product engineering and manufacturing expertise in outdoor power equipment, capabilities in robotics technology as well as access to the independent dealer channel in outdoor."

The report says that James Loree continued, "We were just at MTD’s facilities in Valley City, Ohio, last week and came away even more energised by the pipeline for innovation and the runway for growth in 2022 and beyond.

“The strategic fit is hand in glove and the revenue and cost synergy opportunities are compelling. We are currently in negotiations with MTD on the option execution. And should they come to a successful conclusion and subject to all regulatory approvals, we will begin work on tackling this multiyear opportunity for growth and margin expansion upon closing.”