Home Depot to acquire SRS Distribution for $18.25B, boosting pro capabilities and TAM

HOME DEPOT, INC.

Total enterprise value (including net debt) of ~$18.25B; expected to close by end of fiscal 2024.
Acquisition increases Home Depot's total addressable market by ~$50B to ~$1 trillion.
SRS has 760+ branches across 47 states, 2,500+ professional sales force, and 4,000+ truck fleet.
Transaction expected to be dilutive GAAP EPS but accretive to cash EPS in first year post-closing (ex-synergies).
Home Depot intends to maintain current credit ratings; plans to fund with cash on hand and debt issuance.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

HOME DEPOT, INC. entered into Agreement and Plan of Merger with Shingle Acquisition Holdings, Inc., a Delaware corporation valued at $18,250,000,000 (effective 2024-03-27).

Action: entry
Agreement: merger
Counterparty: Shingle Acquisition Holdings, Inc., a Delaware corporation
Value: $18,250,000,000
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, The Home Depot, Inc., a Delaware corporation (the " Company "), Star Acquisition Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (" Merger Sub "), Shingle Acquisition Holdings, Inc., a Delaware corporation (" SRS "), and Shingle Acquisition, LP, a Delaware limited partnership, solely in its capacity as the initial Holder Representative, entered into an Agreement and Plan of Merger (the " Merger Agreement ")

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HOME DEPOT, INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-040163

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