The Home Depot to acquire HVAC distributor Hughes Supply for $3.47 billion

The Home Depot announced a definitive agreement to acquire Hughes Supply, a leading distributor of HVAC, construction, repair and maintenance products, for $3.47 billion. Hughes Supply joins The Home Depot Supply, roughly doubling that division. This is a strategic retailer/distributor consolidation, not a PE-backed home-service roll-up.

“The Home Depot, one of the world's largest home improvement retailers, and Hughes Supply Inc., a leading distributor of HVAC, construction, repair, and maintenance products, have announced a definitive agreement for The Home Depot to acquire Hughes Supply for $3.47 billion, including the payment of $46.50 per outstanding share and the assumption of $285 million in net debt.”

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