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☆ Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales
  + stars: | 2024-03-28 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com   time to read: +4 min
Home Depot on Thursday said it is acquiring SRS Distribution in an $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals. The home improvement retailer expects the acquisition to close this fiscal year, which ends in late January. Home Depot already draws half of its business from pros, while the other half comes from do-it-yourself customers. It recently announced it will open four distribution centers that help support sales to pros. The acquisition comes after the home improvement retailer said last month that it expects slower sales trends to continue.
Persons: It's, Ted Decker, Leonard Green, Decker, he's, That's Organizations: Atlanta -, CNBC, Leonard Green & Partners, Berkshire Partners, HD Supply, Resources, Depot Locations: Atlanta, McKinney , Texas, U.S, Mexico, Canada
☆ How to become a billionaire
  + stars: | 2024-01-23 | by ( Henry Blodget | ) www.businessinsider.com   time to read: +6 min
But, according to one friendly billionaire, Mark Cuban, there's no downside to being one. But by far the most common way to become a billionaire in the US is to make tons of money. If that were Brady's only income, and he saved all of it, it would still take him 50 years to become a billionaire. Others are shares of partnerships (hedge funds or private-equity funds, for example) or licensing agreements (like billionaire Michael Jordan's deal with Nike). Mark Cuban also recently said that becoming a billionaire is all about luck.
Persons: —, Mark Cuban, year's, Forbes, Tom Brady, Michael Jordan's, Warren Buffett, Berkshire Hathaway, Luck, it's Organizations: Service, Business, year's Forbes, Forbes, NFL, Nike, Berkshire, Microsoft, Oracle, Google, Facebook, Bloomberg, Berkshire Hathaway, Amazon, Walmart Locations: Berkshire, America, Norway, Dell
☆ This Black founder sold her company to P&G—why she says she’s ‘selling up,’ not selling out
  + stars: | 2023-01-21 | by ( Ashton Jackson | ) www.cnbc.com   time to read: +5 min
On Jan. 11, Monique Rodriguez, founder and CEO of multi-million-dollar natural hair care brand Mielle Organics, announced she had sold her company to P&G Beauty, sending Black Twitter into a frenzy. "I don't wanna hear nothing about supporting Black businesses because the second Black companies get all the support they need from the Black dollar they hand everything over to the person with the biggest check," said one Twitter user. Some would consider selling your company — often for millions — to be a major accomplishment, but Black founders are continually scrutinized by their peers and customers for making this choice. However, when Dennis sold the brand to Unilever in for an estimated $1.6 billion, he was called a sellout. "If there were Black conglomerates, and Black, big, private equity firms and partnerships that allowed them to inject capital and allow us to grow, we would go to those Black companies," Rodriguez says.
☆ 39-year-old self-made millionaire: 'Success isn't owned, it's rented. And rent is due every day'
  + stars: | 2022-12-28 | by ( Ashton Jackson | ) www.cnbc.com   time to read: +4 min
The 39-year-old founded Mielle Organics, a natural hair care brand, in 2014 after a devastating loss reshaped life as she knew it. At the time, Rodriquez had an almost decade-long career in nursing, a field her family reassured her was "recession-proof." Here's how Rodriquez navigated funding as a Black woman and the best career advice she's ever received. Yet, only 3% of Black women were operating mature businesses, indicating systemic discrimination in VC and funding — something that Rodriquez knows all too well. "Being a Black woman starting a company, the banks don't believe in you.
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