RTTNews | Aug 17, 2021 06:45AM EDT

06:44 Tuesday, August 17, 2021 (RTTNews.com) - Stanley Black & Decker (SWK) has agreed to acquire the remaining 80 percent ownership stake in MTD Holdings Inc. for $1.6 billion. MTD designs, manufactures and distributes lawn tractors, zero turn mowers, walk behind mowers, snow blowers, residential robotic mowers, handheld outdoor power equipment and garden tools for both residential and professional consumers under brands like Cub Cadet and Troy-Bilt.

Stanley Black & Decker expects the acquisition to be approximately $0.50 accretive to adjusted earnings per share in 2022, increasing to over $1.00 by 2025. One time charges are estimated to be $175 million - $200 million of integration, restructuring and other deal related costs and approximately $125 million - $150 million of non-cash charges.

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