Home Depot completes massive deal
Atlanta-based The Home Depot completed the acquisition of SRS Distribution, Inc. for a total enterprise value of approximately $18.25 billion.
SRS is a leading residential specialty trade distribution company across several verticals serving the professional roofer, landscaper and pool contractor. The agreement to acquire SRS was announced on March 28, 2024.
“SRS is an excellent fit for The Home Depot – it's both complementary and additive to our growth,” said Ted Decker, chair, president and CEO. “Their ability to quickly build leadership positions in each of their specialty trade verticals is a testament to the team's strong vision, leadership, culture and execution. SRS's outstanding customer service, capabilities, and expertise will help us drive value for our customers, associates and shareholders, and we're excited to welcome the SRS team to The Home Depot.”
The acquisition will increase the company's total addressable market to approximately $1 trillion, an increase of approximately $50 billion, the company said. And the combination of the two businesses is expected to accelerate The Home Depot's growth with the residential professional customer.
The announcement added: “SRS complements The Home Depot's capabilities and enables the company to better serve the complex purchase occasion, while also establishing The Home Depot as a leading specialty trade distributor across multiple verticals.”
