Jan. 16, 2006: Home Depot To Acquire Hughes Supply
ATLANTA - The Home Depot, one of the world's largest home improvement retailers, and Hughes Supply Inc., a leading distributor of HVAC, construction, repair, and maintenance products, have announced a definitive agreement for The Home Depot to acquire Hughes Supply for $3.47 billion, including the payment of $46.50 per outstanding share and the assumption of $285 million in net debt.
Hughes Supply will become part of The Home Depot Supply, a division that serves professional contractors, homebuilders, municipalities, and maintenance professionals. The addition of Hughes Supply will more than double the size of The Home Depot Supply with projected 2006 combined sales approaching $12 billion.