Home Depot Inc. said it had completed its $3.2 billion acquisition of construction materials supplier Hughes Supply Inc.
The addition of Hughes Supply, which sells electrical and plumbing products, sewer and building materials, and industrial pipes, more than doubles the size of Home Depot’s supply division, which serves home builders, professional contractors, municipalities and property management companies.
In its largest acquisition to date, Home Depot paid $46.50 a share to Hughes stockholders and assumed $325 million of the company’s debt.