The Home Depot said Thursday that it has closed on its acquisition of building materials distributor GMS Inc.
The deal, made through the home improvement retailer’s SRS Distribution subsidiary, was valued at roughly $5.5 billion including net debt. The Home Depot first announced an agreement to acquire GMS in June.
"The addition of GMS further enhances SRS' position as a leading multi-category building materials distributor, bringing differentiated capabilities, product categories and customer relationships that are highly complementary to SRS' business today," Home Depot Chairman, President and CEO Ted Decker said in a statement. "We want to serve the Pro across their entire project, and the combination of SRS and GMS will enable cross-selling synergies, strengthen our capabilities, and bring even more opportunities to grow with this important customer."
