Stanley Black & Decker Closes Sale Of Security Business To Securitas AB For $3.2 Bln

RTTNews | 1113天前
Stanley Black & Decker Closes Sale Of Security Business To Securitas AB For $3.2 Bln

(RTTNews) - Stanley Black & Decker (SWK) announced Friday that it has completed the previously announced sale of most of its Security assets to Sweden-based Securitas AB for $3.2 billion in cash. The transaction further focuses Stanley Black & Decker's portfolio on its core businesses.

The sale includes Stanley Black & Decker's Commercial Electronic and Healthcare Security business lines (Security).

Net proceeds from the sale are expected to fund debt reduction and the $2.3 billion share repurchase completed in the first quarter. This transaction was announced on December 8, 2021.

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The U.S. Consumer Product safety Commission or CPSC has announced recalls including BJ's gazebos, Stanley Black & Decker mowers, IKEA power banks, ALDI coffee makers, Trader Joe's candles, and certain baby loungers, citing various reasons. The recalls include BJ's Wholesale Club's' about 32,500 units of Berkley Jensen Gazebos citing injury risk; Stanley Black & Decker Inc.'s about 46,200 units...
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