The Home Depot announced March 31 that it has completed the purchase of Hughes Supply. Hughes and Home Depot will combine to create a division to serve business-to-business customers, including home builders, professional contractors, municipalities and maintenance professionals. The acquisition, costing approximately $3.51 billion, more than doubles the size of Home Depot Supply, the business-to-business division — to more than 20,000 employees in more than 600 locations.
The purchase allows Home Depot Supply to rapidly move forward to bring it to 900 locations, according to Joe DeAngelo, executive vice president of Home Depot Supply. That move would bring the overall Home Depot footprint to more than 1,500 outlets.
DeAngelo also identified four specific steps the new organization will take to become the world’s largest diversified wholesale distributor:
- Expand every business into new geographies
- Establish a portfolio of pro platforms covering the market from infrastructure through construction to lifetime maintenance
- Deliver compelling customer productivity by building upon established relationships
- Ensure low-cost provider status by leveraging the entire supply chain of The Home Depot
American Builders and Contractors Supply (ABC Supply) reported sales of nearly $695 million and a net income of $77.3 million for the final quarter of 2005, an increase of 27 percent and 69 percent respectively. Operating income was 11.6 percent of sales, a record performance.
For the year, ABC reported sales of $2.59 billion, a 27.1 percent increase over 2004.
Based in Beloit, WI, ABC Supply is the largest wholesale distributor of roofing supplies in the United States, and one of the largest distributors of siding, windows and selected exterior products. It has more than 300 branches in 45 states and the District of Columbia.
Pneu-Fast launches websitePneu-Fast, a leading supplier of collated fasteners, has launched an interactive website. In addition to showcasing the companies line of fasteners, it also allows customers to purchase online or find a distributor/dealer in their area. The site also includes details on product features and benefits as well as a history of the Evanston, IL – based company.
To review the new site, go to www.pneufast.com