COBB COUNTY (dpa-AFX) - The Home Depot, Inc. (HD), a home improvement
retailer, said on Thursday that it has signed a deal to acquire SRS Distribution
Inc., a residential specialty distributer serving the professional roofer,
landscaper, and pool contractor.

Under the terms, a subsidiary of Home Depot will acquire SRS for around $18.25
billion, including net debt.

The transaction, to be closed by the end of fiscal 2024, is expected to be
funded through cash on hand and debt.

Ted Decker, CEO of Home Depot, said: 'SRS has built a robust and successful
platform that will accelerate our growth with the residential professional
customer while presenting future opportunities with the specialty trade pro.'

This transaction is expected to be dilutive to net income per share of the
acquirer due to amortization expense, but accretive from a cash EPS perspective
in the first year, post-closing, excluding synergies.

Post transaction, Home Depot believes that its total addressable market will be
around $1 trillion, an $50 billion increase.

HD was trading down by 0.77 percent at $382.91 in the pre-market trade on the
New York Stock Exchange.



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