Home Depot Acquires SRS Distribution in $18.25 Billion Deal to Expand Professional Market
The acquisition aims to bolster Home Depot's offerings to professional builders and contractors, enhancing its position in a challenging housing market.
- Home Depot announces the acquisition of SRS Distribution for $18.25 billion, marking its largest purchase aimed at expanding its professional customer base.
- The deal is expected to enhance Home Depot's offerings to professional builders and contractors, with SRS operating independently within Home Depot.
- SRS Distribution, a leading supplier for roofing, landscaping, and pool contractors, boasts over 760 locations and a fleet of 4,000 trucks.
- The acquisition aims to address the cash flow challenges faced by contractors, with Home Depot enhancing trade finance options.
- Regulatory approval is pending for the deal, expected to close by the end of fiscal 2024, amidst a backdrop of a challenging housing market.
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