To enhance Home Depot's services to specialty merchants, the company acquired SRS Distribution Inc.
The world's largest home improvement retailer will sign an agreement with “a leading multi-industry home specialty trade and distribution company serving professional roofers, landscapers and pool contractors,” according to a company release.
Home Depot Professionals Gets Even Bigger
Home Depot advanced this agreement to enhance its existing list of supplies and materials available to professionals and specialists across the United States. The company is determined to expand in this corner of the market, and CEO and Chairman Ted Decker praised the acquisition as a solid one.
“SRS's ability to develop leadership positions in each of its trade areas while generating significant revenue growth is a testament to its strong vision, leadership, culture and execution,” he said. SRS has built a robust and successful platform to accelerate growth with residential specialist clients and provide future opportunities with specialist trade professionals. ”
SRS has a network of more than 760 retail locations across 47 states and employs 2,500 people. The company also operates a fleet of 4,000 trucks and logistics elements, which expands Home Depot's fairly long commercial reach across America.
Mr. Decker went on to praise the deal on LinkedIn, stating: “We believe the growth of our professional business will fuel the next chapter of growth, and SRS excels in serving professional trade professionals with a deep understanding of specific industries and a wide range of product offerings. This acquisition will help us improve overall project sales and capture new purchasing opportunities not previously available. We welcome the entire SRS team to The Home Depot and look forward to future opportunities. .”
Dan Tinker, CEO of SRS, said the company has an “extensive branch network, an experienced sales team, strong trade credit offerings, an order management system, and more to address complex project purchasing opportunities.” We look forward to combining our differentiated assets and capabilities.” Leverage Home Depot's competitive advantage. We believe this will allow us to better serve professionals and continue to grow in a large and highly fragmented market. ”
This news coincides with Home Depot's announcement that it will unveil four new distribution centers by the end of 2024 to fulfill orders from specialty contractors.
Home Depot said in a release that it offers the following services for professionals:
- Localized product assortments specifically tailored to each priority market:
- We have a dedicated sales force in each priority market.
- Digital tools and personalized experiences, including new order management features to better manage complex professional orders.
- Trade Credit is currently being piloted with a small number of professional customers.and
- Tiered pro pricing
Image: Home Depot.
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