Our new strategic partnership with MTD, a global manufacturer of gas-powered outdoor equipment, expands our foothold in the lawn and garden segment. Together, we are looking to grow MTD’s business through cost and revenue opportunities. The potential for growth is exciting as we utilize our respective portfolios of strong brands, bring new innovations, exploiting key technologies such as electrification and autonomous mowing to market, and continue to roll out the Craftsman brand. The future is bright as we bring these new solutions to professional and consumer lawn and garden end users.
Our 20 percent stake in MTD is structured with the option to make a full purchase beginning in 2021. We see this as a compelling long-term investment in an attractive, adjacent market where our brands and technology can flourish.