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Fortune

Sheryl Estrada

Home Depot’s latest deal signals a strategic shift in M&A

Home Depot Depot Phil Wahba GMs HPE

Home Depot storefront and parking lot (Credit: Getty Images)

Good morning. Retailer Home Depot has been in business for nearly 50 years, and its disciplined approach to dealmaking has contributed to its solid growth.

That’s the topic my colleague Phil Wahba explores in a new Fortune article. Home Depot, No. 24 on the Fortune 500, announced this week that one of its business units is acquiring building-products distributor GMS (Gypsum Management and Supply) for about $4.3 billion, prevailing in a bidding war. The deal follows Home Depot’s $18 billion acquisition last year of SRS Distribution (which is the entity actually buying GMS)—the largest acquisition in the company’s history.

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