Tractor Supply’s Arbor Day hurricane partnership
For every Husqvarna chainsaw sold, Tractor Supply will plant trees in hurricane ravaged areas.
As Hurricane Florence barrels in the Mid-Atlantic region, Tractor Supply Company is making green efforts toward assisting areas devastated by the hurricanes of 2017.
Tractor Supply Company has formed a new partnership with the Arbor Day Foundation that will directly benefit the foundation’s hurricane reforestation efforts.
For every Husqvarna chainsaw purchase made in Tractor Supply stores nationwide or on its website, 5 trees will be planted within a forest of need in areas that were severely affected by last year’s hurricanes, including Florida, Texas and Puerto Rico. Tractor Supply has committed to donating up to 50,000 trees.
The hurricane recovery initiative will run through Oct. 28. It comes approximately one year after Hurricanes Harvey, Irma, and Maria left lasting damage in parts of southeastern U.S., Texas and Puerto Rico.
“The havoc of last year’s hurricane season is still evident in many ways, including in the natural landscapes of affected communities, and we as a company are committed to ongoing recovery efforts through our Stewardship Program, which is the company’s environmental sustainability initiative,” said Ben Parrish, executive vice president, general counsel, and corporate secretary of Tractor Supply. “It is a privilege for us to support the Arbor Day Foundation’s efforts to help make our communities and our world cleaner and greener.”
The Arbor Day Foundation has committed to supplying five million trees to the reforestation efforts in Florida, Texas and Puerto Rico. The Foundation will work with local forestry experts who can assess the best time to replant trees and help distribute them to affected homeowners. Long-term reforestation benefits for the impacted communities include improved air quality, support of local wildlife habitats, better flood control, and cleaner water, among others.
“Replanting trees in areas that experienced such devastation is no small task, but it is certainly a critical one,” said Dan Lambe, president of the Arbor Day Foundation. “The support of Tractor Supply will help us bring beauty and hope back to the communities that so desperately need both.”
Tractor Supply customers can purchase Husqvarna chainsaws now through Oct. 28 to help fund reforestation efforts. Tractor Supply offers six models of Husqvarna chainsaws and accompanying accessories in stores, with a larger selection available online
The trees funded by Tractor Supply’s Husqvarna hurricane recovery initiative will be planted in early 2019.
Based in Brentwood, Tenn., Tractor Supply operates more than 1,725 stores in 49 states.
Andersen has big plans in Arizona
Andersen Corporation plans to build a $105 million manufacturing and distribution campus.
Just weeks removed from the sale of its Silver Line and American Craftsman brands of windows to Ply Gem, Andersen Corporation announced that it has big plans for Arizona.
The window and door manufacturer plans to build a new manufacturing and distribution campus and is currently working with state and the City of Goodyear, Ariz. Regarding a proposed location.
Andersen said it plans to invest more than $105 million in the campus while creating over 415 jobs. The privately-held company said the expansion is part of the company’s strategy to invest in its Fibrex material-based products in order to meet current future demand.
The proposed campus will initially include approximately 500,000 square feet of manufacturing and distribution space for Andersen’s fast-growing 100 Series product line. The first phase of construction is expected to begin in early 2019, with anticipated operation by the middle of 2020. The campus will be owned and operated by Andersen Regional Manufacturing, Inc, a subsidiary of Andersen Corporation.
“This new manufacturing campus is an exciting opportunity for us to increase manufacturing and distribution capacity for our fast-growing Fibrex products and expand our presence in the western United States where we are experiencing significant growth,” said Andersen Corporation Chairman and CEO Jay Lund. “We are grateful for the support of Arizona Governor Doug Ducey, the City of Goodyear, Maricopa County and Greater Phoenix Economic Council and we look forward to working closely with these partners and tapping into a robust local workforce to build a world-class manufacturing operation in the region.”
“We’re thrilled that Andersen has chosen Arizona for this significant expansion which will create over 400 new jobs,” said Arizona Governor Doug Ducey. “We wish them even greater success in Arizona.”
Fibrex material is a high-quality, long-lasting engineered composite that has garnered more than 25 United States patents. The material is used in numerous Andersen and Renewal by Andersen product lines. Products manufactured in the Goodyear plant will use a formulation of Fibrex material that contains a blend of wood fiber, mostly reclaimed from Andersen manufacturing processes, and thermoplastic polymer, some of which is also reclaimed.
The company said it anticipates potential total investment of at least $200 million through additional future expansion of the campus.
Based in Bayport, Minn., Andersen Corporation’s brands include Andersen, Renewal by Andersen, EMCO, Weiland, MQ, and Heritage.
Last month Andersen Corporation announced the divestiture of its Silver Line window and patio door division including its Silver Line and American Craftsman brands. The transaction is expected to close early in the fourth quarter of 2018.
Stanley Black & Decker buying 20% stake of MTD
The move gives Stanley Black & Decker a solid position in the outdoor power equipment market.
Stanley Black & Decker is purchasing a 20% stake in MTD Products Inc., the privately held manufacturer of outdoor power equipment.
The move gives Stanley Black & Decker a pivotal foothold in outdoor power equipment market.
Founded more than 85 years ago and headquartered in Valley City, Ohio, MTD’s brands include Cub Cadet, Troy-Bilt, and Remington, among others. MTD has state-of-the-art manufacturing facilities in North America, Europe and Asia, and a global distribution network
Under terms of the $234 million cash deal, Stanley Black & Decker has the option to acquire the remaining 80% of MTD beginning on July 1, 2021.
“This investment in MTD increases our presence in the $20 billion global lawn and garden market in a financially and operationally prudent way,” said James Loree, CEO and president of Stanley Black & Decker.
“We have always viewed outdoor products as an attractive growth category for us to expand our presence beyond handheld electric products,” Loree added. “This transaction gives us the opportunity to do that with a world class partner. MTD has a first-rate management team, talented employees and a mission, values and commitment to innovation that are very closely aligned with our own, and we are excited to move forward with them.”
With 2017 revenues in excess of $2 billion, MTD manufactures and distributes lawn tractors, zero turn mowers, walk behind mowers, snow throwers, trimmers, chain saws, utility vehicles and other outdoor power equipment for both residential and professional lawn and garden customers.
“MTD and Stanley Black & Decker are both proven leaders in our respective industries with iconic brands and world class capabilities,” said MTD’s Chairman and CEO Robert T. Moll. “We’re both passionate about innovation with complementary businesses. Ultimately, this will give us more resources to bring really exciting products to our consumers.”
This partnership enhances Stanley Black & Decker and MTD’s existing commercial relationship, which currently includes the manufacture of select outdoor products under the Craftsman brand.
Going forward, the two companies will work together to pursue revenue and cost opportunities, improve operational efficiency and introduce new and innovative products for professional and residential outdoor equipment customers, leveraging their respective portfolios of strong brands.
The transaction, which is expected to close in early 2019 and is subject to regulatory approvals and customary closing conditions.
In connection with the transaction, Stanley Black & Decker will appoint two representatives to MTD’s 11-member Board of Directors. Beginning in 2021, should Stanley Black & Decker choose to exercise its right to acquire the remaining 80 percent stake, the companies have agreed to a valuation multiple based on MTD’s expected 2018 EBITDA, with a sharing arrangement for any future EBITDA growth.