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Thursday, September 08, 2005

Home improvement chain Home Depot paid US$1.35B for National Waterworks

Home improvement chain Home Depot paid US$1.35B for National Waterworks

The Home Depot Inc., North America's largest home improvement store chain, said in a regulatory filing Thursday that it paid $1.35 billion US to buy a leading distributor of products used to build and repair wastewater transmission systems.

The acquisition of National Waterworks Holdings Inc. was announced in July, but the price was not previously disclosed. Atlanta-based Home Depot gave the price in its quarterly report to the U.S. Securities and Exchange Commission, adding that the deal closed in August.

It said the acquisition will be operated under The Home Depot Supply brand.

The purchase is part of Home Depot's effort to expand its division focused on business-to-business customers.

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