The Stanley Works, the worldwide supplier of tools, hardware and door systems for professional, industrial, and consumer use headquarted in New Britain, Conn., and Frisco Bay Industries Ltd., St. Laurent, Quebec, jointly announced that they have entered into an agreement whereby a subsidiary of Stanley will make offers to acquire 100 percent of the outstanding share capital of Frisco Bay. The offers are expected to close before the end of the first quarter of 2004.
The transaction is valued at approximately U.S. $45.3 million.