Home Depot to buy pro supplier SRS Distribution for $18.25 billion

NEW YORK: Home Depot Inc. said it would buy building-products distributor SRS Distribution Inc. for about $18.25 billion in a bid to bolster the company's professional services business. The deal would further the world's largest home-improvement retailer's focus on professional contractors, a more lucrative target than do-it-yourself consumers. Home Depot and rival Lowe's Cos. have been battling to lock up more of the pro market.

SRS, based in McKinney, Texas, serves professional roofers, landscapers and pool contractors with a sales force of over 2,500 people at more than 760 branches across 47 US states.

"Together with its 4,000-plus truck fleet and jobsite delivery capabilities," the purchase of SRS "will enable the Home Depot to extend its offering to residential specialty trade pros while better serving renovator/remodelers," the company said in a statement on Thursday.