Home Depot Makes $18.25B Acquisition of SRS Distribution to Capture Booming Housing Market

• Home Depot acquiring SRS Distribution, a supplier to contractors, for $18.25B - its largest acquisition ever • SRS provides materials for roofers, landscapers, pool builders, etc. • Home Depot betting on housing amid low supply driving up prices - median new home price rose 29.4% in 5 years • SRS has sales team of 2,500+, 760+ branches in 47 states, 4,000+ truck fleet delivering to jobsites • Deal expected to close by end of 2024; SRS CEO Dan Tinker and management staying on