Home Depot Makes Its Biggest Acquisition Yet, Spending Over $18 Billion on Contractor Supplier SRS Distribution

Home Depot is acquiring SRS Distribution, a building supply distributor, in a $18.25 billion deal including debt
SRS sells supplies to contractors, roofers, landscapers, etc. and operates 760 branches with 11,000 employees
The deal is Home Depot's biggest ever and increases its addressable market by $50 billion
Home Depot sees the acquisition as complementary to its efforts to attract more contractors and pro customers
The deal comes as Home Depot expects slower sales growth, forecasting only 1% total sales increase for 2024