The Home Depot plans to buy McKinney-based SRS Distribution Inc. for $18.25B
The Home Depot may have just found a new piece of home here in North Texas. On Thursday morning, it announced an agreement to buy McKinney-based SRS Distribution Inc. for $18.25 billion.
SRS is the largest network of independent distributor brands in the U.S., providing materials to landscaping, pool and roofing contractors. The company says this move will allow "the residential pro customer with more fulfillment and service options than ever before" as it enters The Home Depot's some 2,000 stores.
"Our team is thrilled to join The Home Depot," said Dan Tinker, SRS's president and CEO said in a news release. "We are looking forward to combining our differentiated assets and capabilities, including our extensive branch network, experienced sales team, robust trade credit offering, and order management system, geared at serving the complex project purchase occasion, with The Home Depot's competitive advantages. We believe this will enable us to better serve pros and continue growing in our large and highly fragmented market."
The Home Depot chair, president and CEO Tod Decker called the acquisition an "exciting opportunity." The world's largest home improvement retailer says the acquisition will add another $50 billion to its overall revenue opportunities, bringing the total addressable market to $1 trillion.
The deal is expected to be completed by the end of fiscal year 2024.
