The Home Depot Acquires Hughes 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.
Weekes Acquires Logan Lumber St. Paul, Minn.–based Weekes Forest Products has acquired Logan Lumber Co., a 77-year-old building products wholesaler based in Tampa, Fla. The deal was completed on Jan. 16.
Weekes Forest Products (www.weekesforest.com) operates seven locations serving 13 states.
New South Opens Gulf Coast Branch West Columbia, S.C.–based New South Supply has opened its ninth location, in Gulfport, Miss., that will service Gulfport, Biloxi, and Jackson, Miss.; New Orleans; and Mobile, Ala.
Looking for new markets to enter, CEO Jim Sobeck began investigating the Gulf Coast region following the devastation of Hurricane Katrina late last summer and found that with only one supplier of commercial building products—and one destroyed—the markets were underserved. “I have been looking to expand to the Gulf Coast for some time,” Sobeck says, and the hurricane simply sped up the process. The facility was open within six weeks of the research.
New South Supply (www.newsouthsupply.com) distributes commercial and industrial products through nine locations in the South.
Kamco Supply Opens in Glens Falls, N.Y. Wallingford, Conn.–based Kamco Supply Corp. of New England announced the opening of a new Glens Falls, N.Y., branch. Jeff Morton, manager of the dealer's Albany, N.Y., location, will manage the new 30,000-square-foot facility until a new manager is hired.
Kamco Supply of New England (www.kamconewengland.com) has eight locations throughout Connecticut, Rhode Island, and New York.