The Home Depot announced that it has completed the acquisition of GMS Inc. (“GMS”) through its specialty trade distribution subsidiary, SRS Distribution Inc. (“SRS”), for a total enterprise value (including net debt) of approximately $5.5 billion. GMS is one of the leading distributors of specialty building products including drywall, ceilings, steel framing and other complementary products related to remodeling and construction projects in residential and commercial end markets. The agreement to acquire GMS was previously announced on June 30, 2025.

“The addition of GMS further enhances SRS’s position as a leading multi-category building materials distributor, bringing differentiated capabilities, product categories and customer relationships that are highly complementary to SRS’s business today,” said Ted Decker, chair, president and CEO of The Home Depot. “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.”

The Home Depot is focused on growing its share of wallet with professional contractors (Pros), and the company is building differentiated offerings and capabilities to better serve Pros across their entire project – from large, complex jobs to smaller renovations and repairs. The Home Depot acquired SRS in 2024, and SRS continues to demonstrate strong execution, performance and market share gains. Now, together GMS and SRS will provide a unique value proposition to serve the residential and commercial Pro more holistically, including with more fulfillment and service options, that will enable Pros to more quickly and seamlessly complete their projects.

About SRS
Founded in 2008 and headquartered in McKinney, Texas, SRS Distribution has grown to become one of the fastest-growing building products distributors in the United States. Since the Company’s inception, it has established a differentiated growth strategy and entrepreneurial culture that is focused on serving customers, partnering with suppliers, and attracting the industry’s best talent. SRS Distribution, a wholly owned subsidiary of The Home Depot, currently operates under a family of distinct local brands encompassing more than 800 locations across 48 states. For more information, visit www.srsdistribution.com.

About GMS
Founded in 1971, GMS operates a network of more than 300 distribution centers with extensive product offerings of wallboard, ceilings, steel framing and complementary products. In addition, GMS operates nearly 100 tool sales, rental and service centers, providing a comprehensive selection of building products and solutions for its residential and commercial contractor customer base across the United States and Canada. GMS’s unique operating model combines the benefits of a national platform and strategy with a local go-to-market focus, enabling it to generate significant economies of scale while maintaining high levels of customer service.

About The Home Depot
The Home Depot is the world’s largest home improvement specialty retailer. At the end of the first quarter of fiscal 2025, the company operated a total of 2,350 retail stores and over 790 branches across all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The Company employs over 470,000 associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor’s 500 index.

Source:  The Home Depot