Home Depot is acquiring specialty distributor SRS for $18.25 billion in huge bet on growing pro sales

Home Depot on Thursday said it is acquiring SRS Distribution in a $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals.The home improvement retailer expects the deal to close this fiscal year, which ends in late January. It said it will finance the deal through cash on hand and debt.Home Depot already draws half of its business from pros, while the other half comes from do-it-yourself customers. With ...