The Home Depot Acquires Interline for $1.6 Billion to Meet Needs of its Professional Customers
Thursday, July 23, 2015 at 11:16AM Jacksonville, Florida based Interline Brands, Inc. is being purchased by The Home Depot for $1.6 billion. Interline is a distributor and direct marketer of broad-line maintenance, repair and operations products (MRO) for professional customers. The acquisition is expected to be completed in The Home Depot’s fiscal third quarter this year.
Interline’s assets include an outside sales force, fulfillment capabilities in the MRO market and a distribution network in more than 90 locations in the US, Canada and Puerto Rico.
"Addressing the needs of our Pro customers is a top priority for The Home Depot," said Craig Menear, chairman, CEO and president of The Home Depot. "Interline is a well-run company that has achieved impressive financial results over the last few years. With their seasoned leadership team, we will enhance our ability to serve the Pro – both in the store and at any desired location outside of the store – driving significant value for our customers and shareholders."
Bill Lennie, president, The Home Depot Canada, has been selected as VP Outside Sales and Service and will be charged with leading The Home Depot’s Pro, MRO and installation services business.
Source: Chain Store Age