New Britain, Conn. – September 09, 2026 -- Stanley Black & Decker (NYSE: SWK) has agreed to sell its Excel Industries business, home to the Hustler professional-grade mower brand, to Bad Boy Mowers, in a deal covering a unit expected to generate approximately $300 million in FY 2026 revenue.
Deal narrows Stanley Black & Decker's portfolio to core outdoor brands
CEO Chris Nelson said the divestiture concentrates company resources on segments with the strongest growth potential, naming Cub Cadet, Dewalt, Craftsman, Troy-Bilt and Black+Decker as the brands set to receive continued investment. The company is prioritizing electric outdoor products and residential ride-on and zero-turn mowers as growth areas.
Excel's zero-turn mower legacy dates to 1964
Excel, based in Hesston, Kansas, designs and manufactures commercial and residential turf-care equipment under the Hustler Turf Equipment brand, distributed through an independent dealer network across the United States and Canada. The unit launched the industry's first hydrostatic zero-turn mower in 1964.
Transaction excludes dilution to adjusted earnings per share
Stanley Black & Decker said it does not expect the sale to dilute adjusted EPS. Excel's results will remain in continuing operations until closing, with no reclassification to discontinued operations in the interim. The deal remains subject to regulatory approval and other customary closing conditions.
Bad Boy Mowers CEO frames acquisition as expansion into professional-grade turf equipment
Bad Boy Mowers CEO Peter Ballantyne said the company is looking forward to supporting Hustler's continued position as a leader in professional grade mowers, citing respect for the business built over decades. Bill Beck, President of Tools & Outdoor at Stanley Black & Decker, credited the Excel team's work for the unit's current momentum.
BofA Securities is serving as financial advisor and Cravath, Swaine & Moore LLP as external legal counsel to Stanley Black & Decker on the transaction.