Stanley Black & Decker to sell Excel Industries (Hustler) to Bad Boy Mowers

STANLEY BLACK & DECKER, INC.

Agreement to sell Excel Industries (Hustler mowers) to Bad Boy Mowers; no deal value disclosed.
Excel expected to generate FY2026 revenue of ~$300M; transaction subject to regulatory approval.
Company expects deal not dilutive to adjusted EPS; Excel stays in continuing operations until close.
CEO Chris Nelson: sale refines portfolio, focuses on Outdoor brands incl. Cub Cadet, Dewalt, Craftsman.
BofA Securities and Cravath advise SWK; closing conditions customary.

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