The Home Depot announces that it has entered into a definitive agreement to acquire SRS Distribution, a distribution company specializing in several vertical sectors serving professional roofers, landscapers and pool contractors.

SRS's sales force of over 2,500 people and network of over 760 branches in 47 U.S. states, as well as its fleet of over 4,000 trucks and on-site delivery capabilities, will enable The Home Depot to extend its offering to professionals.000 trucks and on-site delivery capabilities, will enable Home Depot to extend its offering to professionals.

Under the terms of the agreement, a subsidiary of the home improvement retail giant will acquire SRS for a total enterprise value (including net debt) of approximately $18.25 billion.

The acquisition is subject to customary conditions, including regulatory approvals, and is expected to close by the end of fiscal 2024. The transaction is expected to be financed through cash and debt.

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