Cravath, Stinson Lead Black & Decker's $375M Turf Biz Buy

By Jasmin Jackson (September 13, 2021, 5:40 PM EDT) -- Stanley Black & Decker plans to snag turf-care equipment maker Excel Industries in a $375 million cash deal shaped by Cravath and Stinson, the company said Monday.

Stanley Black & Decker Inc., led by Cravath Swaine & Moore LLP, said it will buy Excel Industries, the parent company of turf-care equipment brands Hustler Turf Equipment and BigDog Mower Co., with cash on hand and proceeds from borrowings.

Stanley Black & Decker CEO James M. Loree said in a statement that the deal is a "strategically important bolt-on acquisition" as the company builds an "outdoor products leader."

"Excel brings a range of premier,...

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