The largest acquisition in the company’s history, Home Depot is acquiring SRS Distribution for $18.25 billion, according to an announcement by the company.
SRS Distribution employs approximately 11,000 people across 47 states and supplies to landscaping, pool and roofing professionals. The acquisition will be used by Home Depot to draw in more business from professional home renovators, contractors and construction companies.
The deal is expected to close this fiscal year and will be financed through cash and debt.
“SRS is an industry leader with a proven track record of profitable growth across verticals,” \Ted Decker, President and CEO of Home Depot, said in the press release. “SRS’s ability to build leadership positions in each of its trade verticals while generating significant revenue growth is a testament to its strong vision, leadership, culture and execution. 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.”