Home Depot’s sales declined 3% to $152.7 billion last year|Mike Mozart|CC BY 2.0

Home Depot is making an $18 billion investment to acquire SRS Distribution, a company focused on professional roofing and building supplies, to attract more contractors and construction firms.

The buying figure includes SRS’s debt of around $5.8 billion. Founded in 2008, the company has 760 locations and 4,000 delivery trucks. It mostly caters to professional contractors.

The acquisition is significant, considering Home Depot’s sales declined 3% to $152.7 billion last year. The home improvement retailer had booming sales during the pandemic as people turned to home hobbies, however, this has since slowed.