HESSTON — Stanley Black & Decker announced Monday that it has entered into a definitive agreement to acquire Excel Industries for $375 million in cash.
The 600-employee company founded in 1960 and based in Hesston, is a leading designer and manufacturer of premium commercial and residential turf-care equipment under the distinct brands of Hustler Turf Equipment and BigDog Mower Co.
Stanley Black & Decker's CEO James M. Loree commented in a press release, "This is a strategically important bolt-on acquisition as we build an outdoor products leader. 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."
Stanley Black & Decker operates the world's largest tools and storage business and the world's second largest commercial electronic security company.
Excel employees were told of the sale.