BREAKING NEWS!...The Home Depot To Acquire Hughes Supply
Hughes Supply will operate as part of The Home Depot Supply, a division that serves business-to-business customers such as homebuilders, professional contractors, municipalities and maintenance professionals.
This move will more than double the size of The Home Depot Supply, with projected 2006 combined sales approaching $12 billion. Together, the two companies will serve a $410 billion market, addressing the continuum from infrastructure and construction to maintenance, repair and remodel.
Hughes Supply, which has more than 500 locations in 40 states and employs about 9,600 associates, has been No. 2 in SUPPLY HOUSE TIMES' Premier 150 listing of wholesalers, which ranks companies by their annual sales, since 2002, just behind Newport News, VA-based Ferguson. Prior to that, Hughes had been ranked No. 1 in the Premier 150 since 1998. Hughes Supply has ranked in the top five among Premier 150 wholesalers since SUPPLY HOUSE TIMES published its first listing in 1993.
The Home Depot said that Hughes Supply's leading position in many of the professional markets will add new platforms to The Home Depot Supply portfolio, while also providing additional scale to the division's positions in water works, professional construction supply and multi-family maintenance. The combination will deliver purchasing synergies; enhance overall operating effectiveness through scale, simplification and knowledge transfer; and accelerate growth by providing professional customers exceptional value, convenience and choice, the home improvement retailer said.