US-based home improvement retailer The Home Depot has closed the acquisition of SRS Distribution, a residential speciality trade distribution company.   

The deal, valued at $18.25bn, expands Home Depot's market presence. 

The completion follows a definitive agreement signed by the two sides in late March 2024. 

Texas-based SRS Distribution serves professional landscapers, roofers and pool contractors. 

The company operates under a family of distinct local brands and has more than 760 locations across 47 US states. 

Home Depot expects the strategic move to broaden its total addressable market to $1tn - an increase of about $50bn.   

The merger aims to bolster Home Depot's growth within the residential professional customer segment. 

It will also enable the company to better serve complex purchase occasions and position the retailer as a dominant speciality trade distributor across various verticals. 

Post-acquistion, SRS Distribution will continue to be led by its current president and CEO, Dan Tinker, along with his senior leadership team.

Home Depot chair, president and CEO Ted Decker said: "SRS is an excellent fit for The Home Depot – it's both complementary and additive to our growth.   

"Their ability to quickly build leadership positions in each of their speciality trade verticals is a testament to the team's strong vision, leadership, culture and execution.  

“SRS's outstanding customer service, capabilities and expertise will help us drive value for our customers, associates and shareholders, and we're excited to welcome the SRS team to The Home Depot."