Now, SRS is conducting an acquisition of its own, buying specialty building products distributor GMS, Home Depot announced in a Monday (June 30) press release, saying the deal will help it expand its “Pro” — as in professional contractors — customer base.
“The combination of GMS and SRS will provide the residential and commercial Pro customer with more fulfillment and service options than ever before,” SRS CEO Dan Tinker said in the release. “Together, we’ll create a network of more than 1,200 locations and a fleet of more than 8,000 trucks capable of making tens of thousands of jobsite deliveries per day.”
Based in Georgia, GMS (Gypsum Management & Supply) distributes specialty building products including drywall, ceilings, steel framing and other products for construction and remodeling projects in residential and commercial end markets, according to the release.
“GMS brings differentiated capabilities, product categories and customer relationships that are highly complementary to SRS’s business today and will broaden its distribution footprint across the U.S. and Canada,” the release said.
Home Depot’s pro customers have historically helped drive sales even when its consumer customers were scaling back.
“Growing Pro is a key part of our growth strategy,” Ann-Marie Campbell, senior executive vice president of U.S. stores and operations at Home Depot, said on an earnings call in February. “It’s clear our initiatives are working with an improved shopping experience for all our Pro members. We know all pros shop our stores, and we have invested to simplify and enhance the in-store shopping experience.”
The Pro-focused strategy includes digital upgrades such as job site deliveries, bulk pricing and personalized accounts, as well as workforce training to offer better support to pros, PYMNTS reported at the time.
When Home Depot announced its $18.2 billion acquisition of SRS in March 2024, the company said its Pro offerings also include trade finance initiatives, important for an industry in which many contractors find themselves paying out of pocket for materials.
Meanwhile, Home Depot Chief Financial Officer Richard McPhail said last month that the company is working to avoid tariff-driven price increases. More than half the company’s products come from within the United States.
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