Building Materials/Construction
Home Depot, SRS Complete $5.5B GMS Acquisition
The deal went final just over a month after it was originally announced, and marks HD’s second landmark building materials distribution purchase in about 15 months.
Just over a month after the agreed-upon deal was originally announced, The Home Depot and Gypsum Management Supply have finalized their acquisition transaction.
The Home Depot said Sept. 4 that the do-it-yourself and contractor supplies retailer has completed its acquisition of wallboard products distributor GMS, with the transaction valued at $5.5 billion.
The deal was originally announced June 30.
“The addition of GMS further enhances SRS’ position as a leading multi-category building materials distributor, bringing differentiated capabilities, product categories and customer relationships that are highly complementary to SRS’ business today,” Home Depot Chairman, President and CEO Ted Decker said in a news release about the completion. “We want to serve the Pro across their entire project, and the combination of SRS and GMS will enable cross-selling synergies, strengthen our capabilities and bring even more opportunities to grow with this important customer.”
Premium: Home Depot Shares the Why Behind GMS Purchase (Aug. 20)
HD’s tender offer expired at midnight after Sept. 3, at which time approximately 79.5% of GMS shares had been tendered, according to the release. All other conditions of the transaction have been satisfied.
As a result, GMS is now a direct subsidiary of GMS as a wholly-owned subsidiary of The Home Depot.
GMS’ May-June Sales & Profit Slide with Home Depot Deal Pending (Aug. 28)
HD completed the deal through its SRS Distribution subsidiary, which it acquired in June 2024 for $18.3 billion in what is HD’s biggest acquisition in company history. The swift closure of the GMS deal followed that of SRS, which completed less than three months after the agreement was announced.
HD’s news release said that the company is focused on growing its share of wallet with pro contractors and that the company is building differentiated offerings and capabilities to serve them across entire projects, from large, complex jobs to smaller renovations and repairs.
On MDM’s 2025 Top Distributors Lists, The Home Depot’s Pro component ranks No. 6 for Industrial Supplies, No. 4 for MRO, No. 3 for Building Materials and No. 9 for JanSan, while GMS ranks No. 9 for Building Materials/Construction.
