New York CNN —In its largest acquisition ever, Home Depot is expanding its business targeting professional contractors and builders as the home fixer-upper market stalls.
SRS, which will operate independently, Home Depot noted, has 760 warehouses and more than 4,000 trucks to deliver its goods.
Home Depot in recent years has purchased other businesses targeting professionals who undertake both complex and simple housing projects.
Home Depot’s push for pro customers comes as its DIY customers have slowed their spending.
Home Depot expects the SRS acquisition, accomplished through a mix of cash and debt, to be completed by the end of the year, but it could face regulatory hurdles.
Persons:
Billy Bastek, Lina Khan
Organizations:
New, New York CNN, Home Depot, Home, Depot, Federal Trade, Meta, Microsoft, Kroger
Locations:
New York