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After a 13-year separation, Home Depot is reconnecting with former subsidiary HD Supply in an acquisition valued at roughly $8 billion.
The purchase is a bid on Home Depot’s part to grow its professional customer base instead of just focusing on its “do it yourself” hobbyists. Pending the customary regulatory approvals, the deal is expected to close by the end of January.
The home improvement giant initially sold HD Supply—a purveyor of maintenance, repair and operations (MRO) products and services—to a group of private equity firms for about $10.3