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Home Depot Buying Back Distributor

The Home Depot is buying back HD Supply Holdings Inc., a distributor of fasteners, plumbing parts, chain and other hardware.

The distributor was part of the big box hardware retailer in the past, and relies on Home Depot for about 98 percent of its yearly business, according to a press release from both companies.

Neither company has publicized details of the deal, which should be finalized by the end of the fiscal year, the press release says. HD Supply was Home Depot’s 2013 Hardware Vendor of the Year.

“After a detailed evaluation, we determined that selling our Hardware Solutions business is in the best interests of our associates and HD Supply shareholders,” Joe DeAngelo, chief executive officer of HD Supply, says in the press release. “HD Supply Hardware Solutions and The Home Depot have a long-standing and natural partnership.”

To read the press release, click here.

About Kate Klein

Kate Klein
Kate is profiles editor for Hardware Retailing magazine. She reports on news and industry events and writes about retailers' unique contributions to the independent home improvement sector. She graduated from Cedarville University in her home state of Ohio, where she earned a bachelor's degree in English and minored in creative writing. She loves being an aunt, teaching writing to kids, running, reading, farm living and, as Walt Whitman says, traveling the open road, “healthy, free, the world before me.”

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