Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales
Publishing timestamp: 2024-03-28 10:44:53
Summary
Home Depot is acquiring SRS Distribution in an $18.25 billion deal, the largest in the company's history. This acquisition is part of Home Depot's strategy to attract more business from contractors and other home professionals, as well as to expand its total addressable market. The deal is expected to close this fiscal year and will be financed through cash on hand and debt. Home Depot has been focusing on the professional market as its growth stagnates due to changing consumer trends.
Sentiment: POSITIVE
Tickers: HD,
Keywords: business news, mergers and acquisitions, retail industry, breaking news: business, home depot inc, business,