Report: HD Supply to return to acquisitions trail
Industrial Distribution staff -- Industrial Distribution, 2/15/2008 7:17:00 AM
HD Supply is poised to expand again after a rough year that saw its takeover by a trio of private equity firms, a string of layoffs and branch closings and the sale of at least one of its divisions, CEO Joe DeAngelo told the Builder Online Web site."2008 is a good year not to be in the headlines for anything that's not customer-service related," DeAngelo told the Web site, adding that the Atlanta-based building materials distributor plans to open new branches in its hometown, the Northwest and in Chicago—and will get back to its aggressive path along the mergers and acquisitions trail.
"We're going to turn the acquisition engine back on," DeAngelo said, noting that any purchases are likely to be bolt-ons to existing units.
HD Supply is also entering the private label market, launching a pair of proprietary brands aimed at retail and commercial customers, and launched a new customer service initiative to address the specific needs of different customers.
DeAngelo told the site that the company will eventually go public, perhaps within five years.
"Going public is a good open discussion" within HD Supply's board, he said. "But this is not going to be a quick strip and flip."
HD Supply ranked second on INDUSTRIAL DISTRIBUTION's 2007 Big 50 list of distributors, with 2006 sales of $12.1 billion.
Related Content
Sponsored Links
View All Blogs
