Home Depot to Acquire GMS
The Home Depot (NYSE:HD) shares were flat Monday, as the world's largest home improvement retailer announced it has entered into a definitive agreement for its specialty trade distribution subsidiary, SRS Distribution Inc. to acquire GMS Inc., a leading North American specialty building products distributor.
The Home Depot's growth strategy includes growing its share of wallet with professional contractors (Pros), and the company is building differentiated offerings and capabilities to better serve Pros across their entire project – from large, complex jobs to smaller renovations and repairs. In 2024, the company acquired SRS, establishing The Home Depot as a leading specialty trade distributor across multiple verticals including roofing, landscaping and pool supplies.
“The acquisition of GMS,” to quote this morning’s news release, “will accelerate SRS's vision of becoming a leading, multi-category building materials distributor, adding a new vertical that is adjacent to its existing business. GMS is a leading distributor of specialty building products including drywall, ceilings, steel framing and other complementary products related to construction and remodeling projects in residential and commercial end markets.
“GMS brings differentiated capabilities, product categories and customer relationships that are highly complementary to SRS's business today and will broaden its distribution footprint across the U.S. and Canada.”
HD shares dipped 11 cents to $368.31.
