Home Depot completes $8 billion acquisition
The Home Depot has completed its acquisition of a business it sold some 13 years ago.
The home improvement giant announced that it has completed the acquisition of HD Supply Holdings. The deal had a total enterprise value (including net cash) of approximately $8 billion.
HD Supply Holdings is a national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The acquisition is expected to position Home Depot as a premier provider in the highly fragmented MRO marketplace, which the company estimates to be approximately $55 billion.
"We're thrilled to welcome HD Supply associates to The Home Depot," said Craig Menear, chairman and CEO of The Home Depot. "The combination of the two businesses will enable us to better serve both existing and new MRO customers, and I look forward to the value this acquisition will bring to our associates, customers and shareholders."
HD Supply complements Home Depot's existing MRO business with a robust product offering and value-added service capabilities, an experienced salesforce, and an extensive, MRO-specific distribution network throughout the U.S. and Canada, Home Depot said in a statement.