Black & Decker Buys Stake In MTD Products

  • 9/13/2018 3:34:40 PM
  • Jesse Smith
  • Local News

NEW BRITAIN, CT - Stanley Black & Decker recently announced that the company will be purchasing a 20% stake in MTD Products, Inc. in a $230-million dollar deal. Stanley Black & Decker will be eligible to purchase the remaining 80% of MTD on July 1st, 2021 under the terms of the new deal.

The deal is expected to go through at the beginning of 2019 and will effectively strengthen existing partnerships between Black & Decker and MTD brands, some of which include jointly-made Craftsman tools and lawn equipment.

Stanley Black & Decker underwent a rebrand in 2010 when The Stanley Works merged with Black & Decker. The Stanley Works, originally founded in 1843, started as two companies - The Stanley Rule and Level Company, and Stanley's Bolt Manufactory. Black & Decker was founded in September 1910, in Baltimore, Maryland as a hardware and power tools company.

MTD was founded in 1932 under the name "Modern Tool and Die Company" in Valley City, Ohio, but has since expanded to several locations across the United States, including the Shelby facility in Richland County. MTD currently owns several notable brands in lawn equipment and power tools, including Remington, Cub Cadet, Troy-Bilt, as well as Yard Machines and Bolens.

More Local News

Our top stories from around the area
  • Marion Police Seek Help Identifying Robbery Suspect

    • 11/13/2018 3:23:32 PM
    • Jesse Smith
    • Local News

    Around 12:33 PM Tuesday, the Marion County Sheriff’s Office received a report of a robbery at the First Federal Bank located at 279 Jamesway Drive in Marion Township.

  • Mansfield Memorial Museum Plans Brewery Exhibit For 2019

    • 11/13/2018 2:39:06 PM
    • Jesse Smith
    • Local News

    After the discovery of long-hidden brewery tunnels underneath the city, the Mansfield Memorial Museum has revealed plans to show an exhibit on the former breweries and bottling companies around the area.

Local News

More stories from around the area