Stanley Black & Decker, Inc. (NYSE: SWK) announced on September 4, 2026, that it has entered into a definitive agreement to sell its Excel Industries business to Bad Boy Mowers JV Acquisition, LLC. The transaction involves the purchase of Excel Industries, LLC, a wholly owned subsidiary of Stanley Black & Decker, along with certain assets related to the HUSTLER brand name.
Excel Industries is a designer and manufacturer of premium commercial and residential turf-care equipment. The business operates primarily under the Hustler Turf Equipment brand and is expected to generate approximately $300 million in revenue for fiscal year 2026. The company is located in Hesston, Kansas, and has a strong legacy of innovation, including the launch of the first hydrostatic zero-turn mower in 1964.
Bad Boy Mowers, led by CEO Peter Ballantyne, will acquire the business. The transaction is subject to the receipt of required regulatory approvals and other customary closing conditions. Stanley Black & Decker does not expect the sale to be dilutive to adjusted earnings per share (EPS). Until the transaction closes, the results of Excel will remain in continuing operations.
Stanley Black & Decker’s President and CEO, Chris Nelson, stated that the sale further refines the company’s portfolio to focus on growing its biggest brands and businesses. He highlighted the company’s commitment to its Outdoor business, which includes brands such as Cub Cadet, DEWALT, CRAFTSMAN, TROY-BILT, and BLACK+DECKER.
BofA Securities, Inc. is serving as the financial advisor, and Cravath, Swaine & Moore LLP is acting as the external legal counsel for Stanley Black & Decker.
