The Home Depot acquires Hughes

Prosales, Feb, 2006

Atlanta-based The Home Depot announced Jan. 10 that it will acquire Hughes Supply for $3.47 billion. Orlando, Fla.-based Hughes, a distributor of construction, repair, and maintenance products with 9,600 employees, more than 500 locations, and previous fiscal year revenue of $4.4 billion, will become part of The Home Depot's pro-focused division, The Home Depot Supply.

"Hughes Supply, our largest acquisition thus far, will accelerate the execution of The Home Depot Supply strategy of repeating in the professional space the same type of market transformation The Home Depot pioneered and executed in the do-it-yourself retail space," said The Home Depot Supply executive vice president Joe DeAngelo in a statement.

The Home Depot (www.homedepot.com) had fiscal 2004 sales of $73.1 billion and operates 2,012 stores throughout the United States, Canada, and Mexico.