Home Depot has announced its acquisition of SRS Distribution in a deal worth $18.25 billion, signaling its commitment to expanding its customer base among contractors, roofers, and other home professionals. The acquisition is expected to be completed by the end of the fiscal year, with financing coming from a combination of cash reserves and debt.
With half of its business already coming from professionals, Home Depot is strategically targeting the lucrative construction market by investing in distribution centers to cater to the specific needs of contractors. This move aligns with the company’s goal to shift focus from DIY customers to professionals, especially as the demand for complex construction projects continues to rise.
This latest acquisition reflects Home Depot’s ongoing efforts to adapt to the evolving needs of the market and solidify its position as a leading home improvement retailer.
2024-03-28 09:44:53
Original from www.cnbc.com