Home Depot is buying SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion. The home improvement retailer said Thursday that the acquisition will help speed up its growth with the contractors. The Home Depot said Thursday that it will pay $18.25 billion for McKinney-based SRS Distribution to expand its business with the professional residential builder and remodeler.
Home Depot has been revamping its distribution to better serve its pro customers for several years and started that effort inon W. Jefferson Boulevard in Dallas. At that time, Home Depot said while only 4% of the company’s customers are people who make a living remodeling and maintaining the residential market, they represented 45% of Home Depot’s annual sales.“Our team is thrilled to join The Home Depot,” said Dan Tinker, SRS’s CEO who plans to stay on with his senior leadership team.
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