AssetID: 53606601
Headline: UNCAPTIONED: Home Depot to Buy Professional Contractor Supplier SRS Distribution
Caption: Home Depot to Buy Professional Contractor Supplier SRS Distribution. The deal, valued at $18.25 billion, will be Home Depot's largest acquisition ever, AP reports. Home Depot CEO Ted Decker issued a statement. "SRS has built a robust and successful platform that will accelerate our growth with the residential professional customer while presenting future opportunities with the specialty trade pro.", Home Depot CEO Ted Decker, via statement. SRS has over 760 branches throughout 47 states. Its fleet consists of more than 4,000 trucks, many of which have jobsite delivery capabilities. SRS CEO Dan Tinker also issued a statement. "We are looking forward to combining our differentiated assets and capabilities, including our extensive branch network, experienced sales team, robust trade credit offering, and order management system, geared at serving the complex project purchase occasion, with The Home Depot's competitive advantages.", "We believe this will enable us to better serve pros and continue growing in our large and highly fragmented market.", SRS CEO Dan Tinker, via statement. Tinker will continue to lead Texas-based SRS. The deal will likely be finalized "by the end of fiscal 2024," AP reports. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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