Home Depot, acquires Interline Brands, Inc., a national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products, for $1.625 billion in cash, subject to customary adjustments.
Home Depot just made its biggest acquisition in nearly a decade.
The acquisition, which has been approved by the shareholders of Interline, is expected to be completed during The Home Depot’s fiscal third quarter, which ends on November 1, 2015.
Home Depot’s shares were marginally up at $114.27 in premarket trading on Wednesday.
“We will enhance our ability to serve the Pro – both in the store and at any desired location outside of the store – driving significant value for our customers and shareholders.” said Craig Menear, chairman, CEO and president of The Home Depot.
Interline brings an experienced outside sales force, fulfillment capabilities in the residential MRO market, and an extensive distribution network of more than 90 locations throughout the U.S., Canada and Puerto Rico.
The Home Depot’s financial advisor for this transaction is BofA Merrill Lynch and the company’s legal advisor is Cleary Gottlieb Steen & Hamilton LLP.
Home Depot Inc , the world’s No.1 home improvement chain,
reported a better-than-expected quarterly profit as an
improving job market encouraged Americans to spend more on
renovations. The company More…
– Photograph source: Sotheby’s International Realty Bernie Marcus,
who is now 84 years old, became a billionaire by founding Home Depot,
and building it up to become one of America’s More…
The Home Depot Inc. says hackers stole 53 million email
addresses in addition to the payment card data it previously
disclosed. It says the hackers accessed its network from a
third-party vendor. The More…
The traders on CNBC’s Fast Money discussed picks for
Thursday, October 23, 2014. Dan Nathan would sell Home Depot.
The company has been facing headwinds lately, including a security
breach that might have More…
On Friday Home Depot, the giant do-it-yourself home improvement chain
based in Atlanta Georgia, announced that it had closed on the acquisition
of Blinds.com. Based in Houston Texas, Blinds.com is the More…