Home Depot Acquiring Specialty Distributor SRS for $18.25 Billion

Published on March 28, 2024

Home Depot is acquiring building materials supplier SRS Distribution as it seeks to focus more on professional customers, the two companies announced in a joint press release on March 29. The Atlanta-based home improvement company expects the acquisition to be completed by the end of fiscal 2024, according to the press release. Under the terms of the agreement, a subsidiary of The Home Depot will acquire SRS for approximately $18.25 billion, including net debt. The deal, which is still subject to customary closing conditions, including regulatory approvals, will be funded through cash on hand and debt. It marks the largest acquisition in Home Depot’s history and comes as the retailer looks to home in on more professional customers such as roofers and landscapers amid a downturn in home remodeling, renovations, and DIY as inflation has soared....

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