USA - The Home Depot, the world's largest home improvement retailer, is set to acquire SRS Distribution Inc., a leading provider in residential specialty trade distribution, in a deal worth approximately USD 18.25 billion.

With SRS's extensive branch network and professional sales force, The Home Depot aims to bolster its presence in the residential professional customer segment and establish itself as a key specialty trade distributor across multiple verticals.

Ted Decker, Chair, President, and CEO of The Home Depot, expressed confidence in SRS's proven track record of profitable growth and its ability to complement The Home Depot's capabilities. The acquisition is expected to expand The Home Depot's total addressable market to approximately USD 1 trillion, presenting significant growth opportunities.

SRS's president and CEO, Dan Tinker, will continue to lead the company under The Home Depot's ownership, leveraging SRS's differentiated assets and capabilities to better serve professional customers. The deal, anticipated to close by the end of fiscal 2024, will be funded through a combination of cash reserves and new debt.

The acquisition reflects The Home Depot's strategic move to diversify its business model and strengthen its position in the professional contractor market, positioning itself for long-term growth and value creation.