Stanley Black & Decker says it will sell its Excel Industries lawn equipment business to Arkansas-based Bad Boy Mowers.
The New Britain toolmaker acquired Kansas-based Excel in 2021. It makes gas-powered, ride-on and zero-turn mowers under the Hustler brand. The company says it’s expected to generate revenue of approximately $300 million this fiscal year.
Stanley says the sale is an effort to “refine” its portfolio and focus on growing its biggest brands, and it will continue to make and market lawn-mowing equipment.
“We are excited about the high-growth opportunities presented in electric outdoor products, and we will continue to thoughtfully invest in high-performance, residential ride-on and zero-turn mowers,” CEO Chris Nelson said. “We are confident in our plans to drive organic growth and margin expansion across this portion of our business.”
Excel launched the first hydrostatic, zero-turn mower in 1964 and sells through independent dealers across the U.S. and Canada.
Financial terms of the deal were not disclosed.
