MTD was founded 90 years ago
August 18, 2021 By Turf & Rec
MTD Holdings Inc., manufacturer of Cub Cadet and Troy-Bilt lawn tractors and tools, is to become wholly owned by Stanley Black & Decker Inc.
Stanley had purchased 20 per cent of the company in 2019 and has agreed to acquire the remaining 80 per cent in a transaction expected to close this year.
Stanley’s decision to purchase the remainder of MTD was based on the latter’s strong brands as well as to focus more on lawn care and electric tools.
MTD has a workforce of about 7,500 employees and realized about $2.5 billion in revenue over the past 12 months. The company’s CEO, Robert Moll, is the grandson of MTD’s founder, who began the company 90 years ago.
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