Home Improvement Making Deals
Home Depot (NYSE: HD) announced recently that they will be paying $12.50 per share to acquire US Home Systems (NASDAQ: USHS), a supplier of kitchen and bath products, representing a 38% premium for shareholders at the time. This will allow Home Depot to boost its home service business. The deal is expected to close by the end of the year. US Home Systems manufactures, designs, sells, and installs custom kitchen and bathroom cabinets and organizational storage systems for closets and garages. The company markets, sells, and installs its products and services through Home Depot. Bringing US Home Systems under Home Depot’s roof assists in expanding its home service offerings even further. The deal was unanimously approved by the US Home Systems board of directors. The companies already had a long-standing business relationship, with the company already serving Home Depot in 66 markets in the U.S. plus two in Canada.