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Home Depot to buy Interline Brands for $1.625 billion

Staff writer |
The Home Depot announced its entry into a definitive agreement to acquire Jacksonville, Florida-based Interline Brands, a national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products.

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Under the terms of the agreement, The Home Depot will acquire Interline for $1.625 billion in cash, subject to customary adjustments.

The acquisition, which has been approved by the shareholders of Interline, is expected to be completed during The Home Depot's fiscal third quarter, which ends on November 1, 2015. The deal is subject to applicable regulatory approval and other customary closing conditions.

The transaction is expected to be accretive to The Home Depot's earnings in fiscal 2015. The company will provide an update to its fiscal 2015 sales and diluted earnings-per-share growth guidance to include the impact of this transaction when it reports its second quarter financial results on August 18, 2015.

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