The Home Depot of Atlanta has reached an agreement to acquire Hughes Supply of Orlando, FL, in a transaction valued at nearly $3.5 billion

Wood & Wood Products, Feb, 2006

> The Home Depot of Atlanta has reached an agreement to acquire Hughes Supply of Orlando, FL, in a transaction valued at nearly $3.5 billion. The Home Depot said purchasing Hughes will more than double its Home Depot Supply division to approximately $t2 billion a year. Joe DeAngelo, executive vice president of The Home Depot, said, "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."