Atlanta-based superstore chain Home Depot said Tuesday that its buying Irving?s U.S. Home Systems Inc.
The North Texas company provides kitchen and bath refacing products and services and closet and garage organizational systems to Home Depot stores.
The company manufactures its own cabinet refacing products and bathroom cabinetry.
Home Depot said it has agreed to pay about $93 million, $12.50 per share in cash, for the company ? a 38 premium premium above the most recent stock closing price.
?The Home Depot has had a long-standing relationship with USHS. By formally bringing USHS into The Home Depot family, we expect to further enhance our customers? home service experience,? said Kevin Hofmann, senior vice president-Home Services, The Home Depot.
Source: http://bizbeatblog.dallasnews.com/2012/08/home-depot-buying-irving-home-improvement-firm.html/
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