Home Depot (HD) to Acquire International Designs Group
- S&P 500 hits 2023 closing high as Powell strengthens peak rate bets
- Santa will continue to deliver - Stock Trader's Almanac
- 5 Tesla analysts weigh in as Tesla stock lags after Cybertruck updates
- Shares climb, dollar falls with Fed comments inspiring dovish bets
- Ulta Beauty lifts guidance after Q3 results beat estimates
The Home Depot®, (NYSE: HD) has entered into a definitive agreement to acquire International Designs Group (IDG), a platform company that owns and operates Construction Resources and other design-oriented subsidiaries. Construction Resources is a leading distributor of design-oriented surfaces, appliances and architectural specialty products for professional (Pro) contractors focused on renovation, remodeling, residential home building and multi-family.
The Pro spend represents a
"Almost all Pros interact with The Home Depot, but their level of engagement varies based on the complexity of their projects. We're building capabilities to ensure we can serve all Pros across all their project needs – whether we're the last stop on the way to the jobsite, or their first consideration when building a project design," said
"We're thrilled to join The Home Depot team, because their customer- and associate-focused culture aligns so well with Construction Resources' commitment to excellence in serving our customers," said
The Home Depot agreed to acquire IDG from Mill Point Capital LLC, a private equity firm focused on control-oriented investments in the business services, industrials and IT services sectors. The acquisition is expected to close by the end of 2023.
The Home Depot is building a unique, interconnected ecosystem to help Pros build their businesses. The company has comprehensive offerings and capabilities for Pros, including its ProXtra loyalty program, job-lot quantities of the right assortment of brands, digital tools and personalized experiences, a variety of fulfillment options with reliable delivery and prioritization for Pros, a dedicated salesforce, and other value-added offerings like credit, tool rental, quote center and more. For more information, visit www.homedepot.com/ProXtra or visit the Pro Desk at a local Home Depot store.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- LianBio (LIAN) Confirms Receipt of Unsolicited Proposal from Concentra Biosciences
- Limoneira (LMNR) to Explore Strategic Alternatives to Maximize Value
- Paylocity Holding (PCTY) Announces Acquisition of Trace
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!