Home Depot is buying HD Supply Holdings Co. in a deal valued at about $8 billion.
A subsidiary of Home Depot Inc. will pay $56 per share for HD Supply’s common stock. Both companies are based in Atlanta.
HD Supply is a distributor of maintenance, repair and operations products in the multifamily and hospitality end markets. It has two business units in Indianapolis: a facilities maintenance fulfillment center at 5201 Park Emerson Drive and a construction and industrial wholesale outlet at 7130 W. McCarty St.
Home Depot Chairman and CEO Craig Menear said in a statement that the acquisition will give it access to HD Supply’s extensive, maintenance, repair and operations-specific distribution network throughout the U.S. and Canada.
The transaction is expected to close during Home Depot’s fiscal fourth quarter.
Home Depot will report its quarterly earnings on Tuesday. Shares rose slightly in Monday premarket trading.