Home Depot stock edged up 0.7% in Monday trading, but has surged 27.8% for the year to date. “HD Supply complements our existing MRO business with a robust product offering and value-added service capabilities, an experienced salesforce that enhances the strong team we have in place, as well as an extensive, MRO-specific distribution network throughout the U.S. and Canada,” said Craig Menear, chief executive of Home Depot, in a statement. The company was re-acquired by The Home Depot in December 2020. Described as a "merger agreement" in a news release, the deal involves a subsidiary of The Home Depot buying all outstanding shares of HD Supply common stock for $56 per share. The home improvement giant announced on Monday that it is acquiring HD Supply Holdings (NASDAQ:HDS) for $8 billion, or $56 per share. “[W]hile we have gone far beyond any reasonable expectation of what this sector can achieve in 2020, the holiday season appears poised to only add value,” wrote Ethan Chernofsky, vice president of marketing at Placer.ai. Shares of Vaxart Inc. undefined tumbled 42.9% in premarket trading on Wednesday after the company said its oral COVID-19 vaccine candidate was well-tolerated in a Phase 1 clinical trial but it did not generate neutralizing antibodies among participants. And in 2015, The Home Depot bought MRO products distributor Interline Brands — which last charted on Industrial Distribution ’s Big 50 List in 2018 at No. Home Depot agreed to buy the hardware business unit of HD Supply Holdings, the industrial distributor that was once part of the home-improvement retailer and has since been a longtime partner. Home Depot, which sold HD Supply in 2007 for $8.5 billion to Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, said it will fund the buy back through a combination of cash and debt. See: Wayfair is confident that sales momentum will outlast the pandemic but some analysts aren’t so sure. With about 156 million shares outstanding, according to a filing, the offer is valued at roughly $8.7 billion. The company provides a broad range of products and value-added services to approximately 500,000 professional customers in maintenance, repair and operations, infrastructure and power and specialty construction sectors. Tonya joined MarketWatch from Moguldom Media, where she was business editor for MadameNoire, a website targeting African-American women with a range of content from personal finance to economics, politics, education and lifestyle and entertainment. [7] The company was re-acquired by The Home Depot in December 2020. Home Depot said Monday it will acquire HD Supply for about $8 billion in a major move to boost its offerings to professional customers. A dds deal details. Since divesting HD Supply in 2007, the company has maintained a sizeable MRO presence through its Home Depot Pro offerings, catering to the contractor supply market. Home Depot Inc. HD, -2.60% said Monday that it has agreed to acquire the remaining shares of HD Supply Holdings Inc. at $56 per share, in a deal valued at about $8 billion. HD Supply is one of the largest industrial distributors in North America. The clinical study tested two dosing schedules in 20 participants. Under the terms of the merger agreement, a subsidiary of The Home Depot will buy all outstanding shares of HD Supply common stock for $56 per share, for a total value (including net cash) of approximately $8 billion. KeyBanc Capital Market third-quarter consumer survey found an “improved spending outlook” from middle- and upper-income individuals across home improvement retail, which includes furniture and furnishings. ATLANTA, Nov. 16, 2020 /PRNewswire/ -- The Home Depot ®, the world's largest home improvement retailer, today announced it has entered into a definitive agreement to acquire HD Supply Holdings, Inc., a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. Visits during the first week of November were up 17.3% the first week of November. is a distributor of maintenance, repair and operations (MRO) products for the multi-family and hospitality markets. HD, Announces Pricing of Sale of 40,661,072 Shares of Common Stock by Selling Stockholders", "HD Supply Holdings, Inc. The enterprise business units are divided into three categories, with 650 locations across 48 states and seven Canadian provinces. Wayfair is confident that sales momentum will outlast the pandemic but some analysts aren’t so sure, Mortgage rates rise from record lows on vaccine news, election results, Vaxart shares fall 42% on disclosure of early-stage results from COVID-19 vaccine study, One big winner in the GameStop frenzy: This hedge fund that made $700 million, Apple may build a fully autonomous electric car with Hyundai-Kia: report, Reddit poster who has pushed GameStop will testify, Waters says, Dogecoin surges after a one-word Elon Musk tweet, 3 things you can do in 2021 to set your kid up to become a millionaire, Don’t buy a Tesla during a production ramp, Elon Musk warns. HD Supply (formerly Maintenance Warehouse) is an industrial distributor in North America. “As anticipated, category growth moderated in Q3 (to +11% vs. 15% in Q2), but remained strong, with the slowdown less dramatic than investors expected three months ago,” analysts led by Zachary Fadem wrote. In 2004, Maintenance Warehouse changed its name to HD Supply. has gained 4.7% in 2020 so far. The home improvement category, which also includes competitors like Lowe’s Cos. [9] In December 2014 SEC filings showed that The Carlyle Group and Clayton, Dubilier, & Rice had sold off their holdings in HD Supply. She also worked at Mediabistro, and previously handled media relations for MSLGroup’s consumer practice. HD Supply, a former Home Depot unit, provides a wide range of items and “value-add services” to roughly 300,000 clients with “leadership positions in … Home Depot Inc said on Monday it would buy industrial goods wholesaler HD Supply Holdings in a deal valued at about $8 billion. [10]On 1 August 2017, Clayton, Dubilier & Rice acquired the Waterworks division of HD Supply for USD 2.5 billion,[11] and changed its name to Core & Main. The S&P 500 undefined is up 18.6% over the last 12 months. The FactSet consensus for Home Depot’s third-quarter earnings per share is $3.05, up from $2.53 last year. Trading Home Depot After Its $8 Billion Buy of HD Supply Home Depot trades mostly flat after agreeing to buy HD Supply for $8 billion. [12], On November 16, 2020, HD Supply Holdings, Inc. announced an agreement to be reacquired by The Home Depot, Inc.[13]. [citation needed], Home Depot, after changing its CEO from Bob Nardelli to Frank Blake, decided to sell HD Supply in order to raise capital to repurchase Home Depot stock and shore up the stock price. Announces Agreement to be Acquired by The Home Depot, Inc", https://en.wikipedia.org/w/index.php?title=HD_Supply&oldid=1003341548, Articles with unsourced statements from December 2020, Creative Commons Attribution-ShareAlike License, Maintenance, Repair and Operations - HD Supply Facilities Maintenance, Specialty Construction - HD Supply Construction & Industrial — White Cap (United States), Specialty Construction - HD Supply Construction & Industrial — Brafasco (Canada), This page was last edited on 28 January 2021, at 14:54. Home Depot is slated to report third-quarter earnings before Tuesday’s opening bell. ATLANTA, Dec. 24, 2020 -- The Home Depot, the world's largest home improvement retailer, has completed the acquisition of HD Supply Holdings, Inc., for a total enterprise value (including net cash) of approximately $8 billion. Shop online for all your home improvement needs: appliances, bathroom decorating ideas, kitchen remodeling, patio furniture, power tools, bbq grills, carpeting, lumber, concrete, lighting, ceiling fans and more at The Home Depot. “We attribute the continued healthy growth to an extended summer/outdoor season, pick-up in Pro activity, robust housing indicators (turnover, remodel, refinancings, etc. has rallied during COVID-19 as consumers shift their spending away from areas like travel and restaurants to the home. Copyright © 2021 MarketWatch, Inc. All rights reserved. HD Supply is a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. IgG antibodies are often detected in people who have recovered from a COVID-19 infection. The … The home improvement giant announced on Monday that it is acquiring HD Supply Holdings for … The transaction is believed to be in the best interest … The home improvement retailer said it … Home Depot has found a use for its growing pile of cash. Described as a "merger agreement" in a news release, the deal involves a subsidiary of The Home Depot buying all outstanding shares of HD Supply common stock for $56 per share. Our industry-leading businesses provide a broad range of products, services and solutions to professional customers in the maintenance, repair and operations (MRO), infrastructure, and non-residential and residential construction markets. The acquisition is expected to position The Home Depot as a … In 2007, the HD Supply was purchased by private equity firms Bain Capital, The Carlyle Group, and Clayton, Dubilier & Rice, and continued to operate as HD Supply. The benchmark Dow Jones Industrial Average It sold the company in 2007 to three private equity firms for $10.3 billion as it turned its focus on its retail operations. Wells Fargo analysts are upbeat about what’s in store for Home Depot’s third-quarter results. In a deal worth an estimated $8 billion, Home Depot has agreed to buy HD Supply Holdings, an Atlanta-based distributor of industrial products for businesses and apartments buildings. HD Supply is a wholesale distributor of electrical, plumbing, janitorial and other supplies that Home Depot sold in 2007 to a consortium of private-equity firms in a leveraged buyout valued at $8.4 billion. The announcement comes a day before Home Depot is scheduled to report fiscal third-quarter results. [8], The company was founded in 1974 as Maintenance Warehouse in San Diego, CA. Home Depot Inc. said Monday that it has agreed to acquire the remaining shares of HD Supply Holdings Inc. at $56 per share, in a deal valued at about $8 billion. (Reporting by Uday Sampath in Bengaluru; Editing by Shinjini Ganguli) We apologize, but this video has failed to load. HD Supply, a former Home Depot unit, provides a wide range of items and “value-add services” to roughly 300,000 clients with “leadership positions in … Analysts are upbeat on upcoming earnings report. Home Depot will buy all outstanding shares for about $56 apiece, according to a statement Monday, representing a premium of about 25% over HD Supply’s … http://www.hoovers.com/company-information/cs/company-profile.Hd_Supply_Holdings_Inc.52db8a74716e0acc.html, http://www.hdsupply.com/about/downloads/JoeDeAngelo_Bio_01-27-15.pdf, http://www.hdsupply.com/about/downloads/EvanLevitt_Bio_01-27-15.pdf, "Home Depot completes $8 billion purchase of HD Supply", "HD Supply Holdings, Inc. Prices Initial Public Offering of Common Stock", "HD Supply Holdings, Inc. LOW, 12 — for $1.63 billion. +1.93%, Home Depot will buy all outstanding shares for about $56 apiece, according to a statement Monday, representing a premium of about 25% over HD Supply’s closing price on Friday. Home Depot said it would buy industrial goods wholesaler HD Supply Holdings in a deal valued at about $8 billion. Since divesting HD Supply in 2007, the company has maintained a sizeable MRO presence through its Home Depot Pro offerings, catering to the contractor supply market. The company said additional data from the Phase 1 trial will be presented Wednesday afternoon at a symposium in New York. Hughes Supply was then integrated into the HD Supply division. Vaxart said its experimental vaccine was immunogenic in the preliminary results; however, it also said that neutralizing antibodies were not detected in serum or IgG antibodies were not found in "most subjects." Tonya Garcia is a MarketWatch reporter covering retail and consumer-oriented companies. Home Depot (HD) - Get Report shares weren't moving much on Monday, trading about flat on the day despite making an $8 billion acquisition of HD Supply (HDS) - Get Report. Home Depot, which sold HD Supply in 2007 for US$8.5 billion to Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, said it will fund the buy back through a combination of cash and debt. Vaxart's stock has soared 1,358.1% over the past year. Placer.ai data shows that visits to Home Depot jumped 15.7% year-over-year in October, indicating that the COVID-19 rally will continue through the holidays. HD Supply is a wholesale distributor of electrical, plumbing, janitorial and other supplies that Home Depot sold in 2007 to a consortium of private-equity firms in a leveraged buyout valued at $8.4 billion. She is based in New York. Home Depot initially bought HD Supply in 1997. Home Depot initially bought HD Supply in 1997, but sold it 10 years later when it began to focus more on its retail operations. [citation needed], On June 27, 2013, HD Supply Holdings, Inc., the indirect parent of HD Supply, Inc., announced that it had priced an initial public offering of 53,191,489 shares of common stock at $18.00 per share. The transaction should be completed during Home Depot’s fiscal fourth quarter, which ends Jan. 31, 2021. HD Supply (formerly Maintenance Warehouse) is an industrial distributor in North America. HDS ATLANTA, Dec. 24, 2020 /PRNewswire-HISPANIC PR WIRE/ -- The Home Depot ®, the world's largest home improvement retailer, has completed the acquisition of HD Supply Holdings, Inc., for a … The company provides a broad range of products and value-added services to approximately 500,000 professional customers in maintenance, repair and operations, infrastructure and power and specialty construction sectors. For more information, visit homedepot.com. The transaction will be funded by cash on hand and debt. Home Depot, the … The FactSet consensus for revenue is $31.83 billion, up from $27.22 billion in 2019. The company provides a broad range of products and value-added services to approximately 500,000 professional customers in maintenance, repair and operations, infrastructure and power and specialty construction sectors. In 1997, The Home Depot purchased Maintenance Warehouse with its dedicated delivery trucks and free delivery service. The company was re-acquired by The Home Depot in December 2020. HD Supply (HDS) will combine with Home Depot through a tender offer and merger agreement. ATLANTA, Dec. 24, 2020 /PRNewswire-HISPANIC PR WIRE/ -- The Home Depot ®, the world's largest home improvement retailer, has completed the acquisition of HD Supply Holdings, Inc., for a … HD Supply … Nov 16 (Reuters) - Home Depot Inc HD.N said on Monday it would buy industrial goods wholesaler HD Supply Holdings Inc HDS.O in a deal valued at about $8 billion. You can follow her on Twitter @tgarcianyc. HD Supply Holdings, Inc. went public on June 27, 2013, on the NASDAQ stock exchange under the ticker symbol HDS. HD Supply Facilities Maintenance supplies maintenance, repair & operations products to multifamily, hospitality, healthcare, commercial & government facilities. Home Depot, which sold HD Supply in 2007 for $8.5 billion to Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, said it will fund the buy back through a combination of cash and debt. Wells Fargo rates Home Depot stock overweight with a $310 price target. Home Depot will buy all outstanding shares for about $56 apiece, according to a statement Monday, representing a premium of about 25% over HD Supply’s closing price on Friday. Home Depot Chairman and CEO Craig Menear said in a prepared statement that the acquisition will give it access to HD Supply’s extensive distribution network throughout the … The deal is expected to add to earnings in fiscal 2021. Home Depot said Monday it will acquire HD Supply for about $8 billion in a major move to boost its offerings to professional customers. HD Supply Holdings (HDS) - Get Report shares soared to an all-time high Monday after agreeing an $8 billion takeover by Home Depot (HD) - Get Report. DJIA, +0.12% The data was shared in a news release. ), and favorable weather (warmer Jul./Aug., cooler Sept.).”. 12 — for $1.63 billion. The shares began trading on the NASDAQ Global Select Market on June 27, 2013 under the ticker symbol HDS. Let's look at the chart to see how the stock is setting up. ), re-allocation of discretionary spending (travel, concerts, etc. Home Depot Inc. agreed to buy HD Supply Holdings Inc. for about $8.7 billion, beefing up its ability to distribute industrial products amid the pandemic and reuniting with a unit it sold off in 2007. Home Depot initially bought HD Supply in 1997, but sold it in 2007 when began to focus more on its retail operations. HD Supply Holdings Inc. HD Supply (formerly Maintenance Warehouse) is an industrial distributor in North America. In January 2006, Home Depot announced that it was acquiring Hughes Supply in a $3.2 billion deal. Home Depot Inc. HD, -2.60% said Monday that it has agreed to acquire the remaining shares of HD Supply Holdings Inc. at $56 per share, in a deal valued at about $8 billion. Home Depot, which sold HD Supply in 2007 for $8.5 billion to Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, said it will fund the buy back through a combination of cash and debt. Home Depot, which sold HD Supply in 2007 for $8.5 billion to Bain Capital, Carlyle Group and Clayton, Dubilier & Rice, said it will fund the buy back through a combination of cash and debt. With about 156 million shares outstanding, according to a filing, the offer is valued at roughly $8.7 billion. 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