The Home Depot Completes Acquisition of SRS Distribution
Based in McKinney, Texas, SRS is a leading regional building products distributor.
The Home Depot®, the world's largest home improvement retailer, has completed the acquisition of SRS Distribution, Inc. ("SRS") for a total enterprise value of approximately $18.25 billion. SRS is a leading residential specialty trade distribution company across several verticals serving the professional roofer, landscaper and pool contractor. The agreement to acquire SRS was announced on March 28, 2024.
"SRS is an excellent fit for The Home Depot – it's both complementary and additive to our growth," said Ted Decker, chair, president and CEO. "Their ability to quickly build leadership positions in each of their specialty trade verticals is a testament to the team's strong vision, leadership, culture and execution. SRS's outstanding customer service, capabilities, and expertise will help us drive value for our customers, associates and shareholders, and we're excited to welcome the SRS team to The Home Depot."
The acquisition will increase the company's total addressable market to approximately $1 trillion, an increase of approximately $50 billion. The combination of the two businesses will accelerate The Home Depot's growth with the residential professional customer. SRS complements The Home Depot's capabilities and enables the company to better serve the complex purchase occasion, while also establishing The Home Depot as a leading specialty trade distributor across multiple verticals.
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer. At the end of the first quarter of fiscal year 2024, the company operated a total of 2,337 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately 465,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
About SRS Distribution
Founded in 2008 and headquartered in McKinney, Texas, SRS has grown to become one of the fastest growing building products distributors in the United States. Since the Company's inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry's best talent. SRS currently operates under a family of distinct local brands encompassing more than 760 locations across 47 states. For more information, visit www.srsdistribution.com.
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