The 2020 Mid-Year Economic Update_long

Stanley Black & Decker Agrees to Sell Mechanical Security Business

Company to divest division to Swiss-based dormakaba for $725 million.

Stanley Black & Decker (NYSE: SWK), New Britain, CT, has agreed to sell the majority of its mechanical security businesses to dormakaba, Rümlang, Switzerland, for $725 million. The sale includes the commercial hardware brands of BEST Access, phi Precision and GMT. Sargent and Greenleaf was not included in the sale.

Stanley Black & Decker in October agreed to acquire the tools business of Newell Brands Inc. (NYSE: NWL), Hoboken, NJ, which includes the industrial cutting, hand tool and power tool accessory brands Irwin and Lenox, for $2 billion.

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