BusinessFILE - Shopping carts are parked outside a Home Depot in Philadelphia on Sept. 21, 2022. The home improvement retailer said Thursday, March 28, 2024, that the acquisition will help speed up its growth with the contractors. Home Depot will buy SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion.
Home Depot is making a big bet on a housing market that is suffering a severe lack of new homes, which has driven prices sky high. Home Depot said that when taking the deal into account, it now believes its total addressable market is approximately $1 trillion, an increase of approximately $50 billion.
SRS’s has a sales team of more than 2,500 and more than 760 branches across 47 states. It also has 4,000-plus truck fleet and jobsite delivery capabilities.
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