Home Depot is acquiring SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion.
This is Home Depot’s largest acquisition in its history and strengthens its presence in the fast-growing professional builder and contractor business.
Driving the news: SRS Distribution supplies materials to professionals such as roofers and landscapers.
- Home Depot is making a strategic move in the housing market, which is experiencing a severe lack of new homes and rising prices.
- The US housing market has recently shown signs of recovery with an increase in sales of previously occupied homes due to a modest pullback in mortgage rates.
- SRS Distribution has a large sales team, more than 760 branches across the US, and a fleet of over 4,000 trucks for jobsite delivery.
- The deal is expected to close by the end of fiscal 2024.
What they’re saying: “SRS has built a robust and successful platform that will accelerate our growth with the residential professional customer while presenting future opportunities with the specialty trade pro,” said Home Depot CEO Ted Decker in a statement.
