Stanley Black & Decker to acquire remainder of MTD

Stanley Black & Decker announced it has reached a deal to acquire the remaining 80 percent stake in MTD Holdings Inc.

Stanley has owned a 20 percent interest in the privately held outdoor power equipment manufacturer since 2019. Under the new agreement, it will pay $1.6 billion in cash for the remainder of MTD, whose brands include Cub Cadet and Troy-Bilt. The transaction is expected to close before year’s end.