All articles tagged with #professional builders
Home Depot is acquiring GMS for approximately $4.3 billion to expand its building supply business, focusing on serving professional builders and creating a large network of distribution and delivery options, as part of its strategic move into building materials following its earlier acquisition of SRS Distribution.
Home Depot's largest acquisition ever is an $18.25 billion deal to buy SRS Distribution, a materials provider for professionals, as it aims to step more aggressively into the fast-growing professional builder and contractor business. The move is a bet on the severe shortage of new homes in the housing market, which has driven prices sky high, and the overall decline in mortgage rates has encouraged homebuyers. With this acquisition, Home Depot believes its total addressable market will increase by approximately $50 billion, and the deal is expected to close by the end of fiscal 2024.