Home Depot Completes $5.5 Billion GMS Acquisition via SRS

Atlanta, Sept. 6, 2025 - The Home Depot announced today that it completed its $5.5 billion acquisition of GMS Inc. through its SRS Distribution subsidiary, expanding its professional contractor offerings.

The deal, originally unveiled on June 30, underscores Home Depot’s strategy to deepen its service and product portfolio for residential and commercial contractors. By integrating GMS’s specialty building products business with SRS’s network, Home Depot aims to drive cross-selling synergies and strengthen fulfillment capabilities.

Key Details:

• All conditions of the tender offer were met, with 79.5% of GMS shares validly tendered at $110 per share.
• GMS now operates as a subsidiary of SRS Distribution, itself an indirect, wholly owned unit of Home Depot.
• GMS adds over 300 distribution centers and nearly 100 tool sales, rental, and service locations across the U.S. and Canada, complementing SRS’s 800-plus branches.

Strategic Rationale CEO Ted Decker emphasized that combining SRS and GMS “will enable cross-selling synergies, strengthen our capabilities, and bring even more opportunities to grow with this important customer.” The expanded platform will offer Pros a more holistic suite of drywall, ceilings, steel framing, and complementary building products.

Market Impact The acquisition enhances Home Depot’s share of wallet with professional contractors by broadening its multi-category materials distribution. It also positions the company to accelerate growth in large-scale renovation and construction projects through improved fulfillment options and localized service.

Future Outlook With GMS now fully integrated, Home Depot will focus on realizing operational efficiencies, driving service innovation, and leveraging its nationwide distribution infrastructure to capture incremental market share in the professional segment.