The Home Depot Acquires Interline Brands & Copperfield

The Home Depot®, the world's largest home improvement retailer, announced on July 21 its pending acquisition of Interline Brands, Inc., parent company of Copperfield Chimney Supply. Interline Brands is a leading national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products.

In addition to Copperfield Chimney Supply, Interline’s companies include SupplyWorks, Wilmar, Maintenance USA, Barnett Pro Contractor Supplies, Hardware Express, U.S. Lock and Leran Gas Products. Interline is currently owned by Goldman Sachs Capital Partners, P2 Capital Partners, LLC and management..

"Addressing the needs of our Pro customers is a top priority for The Home Depot," said Craig Menear, chairman, CEO and president of The Home Depot. "Interline is a well-run company that has achieved impressive financial results over the last few years. With their seasoned leadership team, we will enhance our ability to serve the Pro – both in the store and at any desired location outside of the store – driving significant value for our customers and shareholders.".

Interline brings to The Home Depot an experienced outside sales force, fulfillment capabilities in the residential MRO market, and an extensive distribution network of more than 90 locations throughout the U.S., Canada and Puerto Rico.

"We're thrilled for our customers and employees that Interline Brands and The Home Depot have agreed to join forces," said Michael Grebe, chairman & CEO of Interline. "We're confident they all will benefit from this next exciting stage in our company's history."

Copperfield Chimney Supply declined to comment at this time. “We will have a more official announcement about the acquisition when the sale goes through in November,” said Mandy Mellum, Copperfield’s Graphic Designer/Marketing Communications Specialist.

Under the terms of the agreement, The Home Depot will acquire Interline for $1.625 billion in cash, subject to customary adjustments. The acquisition, which has been approved by the shareholders of Interline, is expected to be completed during The Home Depot's fiscal third quarter, which ends on November 1, 2015. The deal is subject to applicable regulatory approval and other customary closing conditions.

Source: The Home Depot, Interline Brands


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