No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(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.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.