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The Home Depot, Inc. stock rises on Mingledorff's HVAC acquisition expanding pro customer reach
The Home Depot, Inc. announced its subsidiary SRS Distribution will acquire HVAC wholesaler Mingledorff’s, targeting the $100 billion market and boosting its total addressable market to $1.2 trillion. This strategic acquisition expands Home Depot’s focus on professional contractors, a high-growth, high-margin segment, to mitigate a slowdown in retail demand. Analysts view the deal as a strategic move for long-term growth, despite limited near-term financial impact, positioning Home Depot for resilient performance in a changing market.