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Industry & Trends

Home Depot Doubles Down on Pro Business

The giant home improvement retailer’s latest acquisition makes a big statement on its focus on contractors and professional builders.

Only a month after announcing four new distribution centers specifically focused on its pro customers, Home Depot made a huge purchase that strengthened its attention to the roofing, landscaping, and pool sectors of the professional building business.

Home Depot is spending $18.25 billion to buy SRS Distribution, acquiring its 760 branches in 47 states that operate under several local brands and last year generated about $10 billion in sales. Founded in 2008, Texas-based SRS said it has a sales force of over 2,500 people operating some 4,000 trucks.

“SRS is an industry leader with a proven track record of profitable growth across verticals,” Home Depot CEO Ted Decker said in announcing the deal. “SRS’s ability to build leadership positions in each of its trade verticals while generating significant revenue growth is a testament to its strong vision, leadership, culture, and execution.”

“We are looking forward to combining our differentiated assets and capabilities,” Dan Linker, CEO of SRS, said, “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.”

Even though pro customers represent only about 10 percent of its total base, they account for about half of Depot’s overall annual sales. The retailer has been aggressively going after the contractor and builder business as its DIY revenues continue to be impacted by the overall slowdown in the housing market. The deal is expected to close by the end of this year.

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