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Home Depot to buy construction materials supplier
ATLANTA, May 6 (Reuters) - Home Depot Inc. (HD) , the world's largest home improvement retailer, on Thursday said it would expand its business geared to contractors with the acquisition of White Cap Construction Supply Inc., a distributor of specialty hardware, hand tools and safety equipment.
Terms were not disclosed, but Home Depot said in a statement that White Cap, based in Costa Mesa, California, had annual sales of about $500 million.
Home Depot said the acquisition would close in the next 30 days and was expected to add to earnings.
The Atlanta company has acquired flooring companies and other businesses in recent years as it expands its Home Depot Supply division that caters to homebuilders and other professionals.
Website: http://ir.homedepot.com/index.cfm
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