Home Depot will buy SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion.
The U.S. housing market is coming off a deep, 2-year sales slump triggered by one-two punch of so few homes and sharp rise in mortgage rates. The overall decline in rates since their peak last fall has opened a tiny window for some, though a home remains out of reach for millions of Americans. “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,” Home Depot CEO Ted Decker said in a statement.
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