Home Depot to buy SRS Distribution in $18.25bn deal
By Michele Maatouk
Date: Thursday 28 Mar 2024
(Sharecast News) - Home Depot said on Thursday that it has agreed to buy SRS Distribution, a residential specialty trade distribution company, for around $18.25bn.
The US home improvement retailer said SRS will accelerate its growth with the residential professional customer.
With this acquisition, it now believes its total addressable market is around $1trn, an increase of approximately $50bn.
Ted Decker, chair, president and chief executive of Home Depot, said: "SRS is an industry leader with a proven track record of profitable growth across verticals.
"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."
SRS's has 2,500-plus professional sales force, 760-plus branch network across 47 states, and 4,000-plus truck fleet and jobsite delivery capabilities.
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