Home Depot to Buy SRS Distribution

Home Depot to Buy SRS Distribution March 28, 2024, 6:39 p.m., readers: 4

Home Depot (NYSE:HD) announced its intention to purchase SRS Distribution for $18.25 billion, in what is a significant move to expand its services to professional clientele, including contractors and roofers. This acquisition is a strategic effort by the retail heavyweight to enhance its sales as the home improvement sector experiences a sluggish recovery, primarily due to cautious consumer spending amid ongoing inflation. The company's traditional do-it-yourself (DIY) market has encountered challenges, prompting a shift in focus towards "Pro-customers" such as professional builders, contractors, and handymen to sustain revenue. Through the acquisition of SRS Distribution, Home Depot aims to widen its market reach by an additional $50 billion, targeting a new total market potential of approximately $1 trillion.

About NYSE: HD

T he Home Depot, Inc. operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows. In addition, it provides tool and equipment rental services.

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