Home Depot announced on June 30, 2025, that its subsidiary, SRS Distribution, has agreed to acquire specialty building products distributor GMS for approximately $4.3 billion. The deal involves SRS purchasing all outstanding shares of GMS for $110 per share, with a total enterprise value of about $5.5 billion including net debt.
This acquisition is expected to be completed by early 2026 and concludes a potential bidding war for GMS, which had also received an unsolicited offer from QXO. The move is a direct acceleration of Home Depot's strategy to draw more sales from contractors and other home professionals.
The GMS acquisition builds upon Home Depot's largest acquisition in its history, the $18.25 billion purchase of SRS Distribution last year. By integrating GMS, Home Depot further strengthens its offerings to professionals in areas like roofing, drywall, and lumber, catering to large projects and enhancing its position in the lucrative Pro segment.
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