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Home Depot’s SRS Distribution to Acquire GMS for $4.3 Billion

It locks in a strategic expansion of Home Depot’s professional network with plans to integrate GMS into its SRS platform

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Home Depot announced an acquisition this week.
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FILE - A Home Depot logo sign hands on its facade, Friday, May 14, 2021, in North Miami, Fla. (AP Photo/Wilfredo Lee, File)

Overview

  • SRS Distribution will launch a cash tender offer to buy all GMS shares at $110 each, valuing the transaction at approximately $4.3 billion.
  • The deal carries a total enterprise value of about $5.5 billion after accounting for GMS’s net debt.
  • Home Depot outbid QXO’s proposed takeover, ending the rival cash offer of roughly $5 billion.
  • GMS shares jumped over 11% on the announcement while Home Depot’s stock held near flat in early trading.
  • The acquisition is slated to close by early 2026 and is expected to bolster SRS’s pro-contractor platform with expanded logistics and finance capabilities.