The Home Depot, the world’s largest home improvement retailer, announced its entry into a definitive agreement to acquire Jacksonville, Fla.-based Interline Brands Inc., the parent company of such well-known plumbing brands as Easy-Tite faucet parts, Easy Wrap pipe join tape, Blue Spot flush valve bulbs and Proplus garbage disposals. It is also the parent company of wholesaler Barnett with locations all over the country.
Under the terms of the agreement, The Home Depot will acquire Interline for $1.625 billion in cash, subject to customary adjustments. The acquisition, which has been approved by the shareholders of Interline, is expected to be completed during The Home Depot’s fiscal third quarter, which ends on November 1, 2015. The deal is subject to applicable regulatory approval and other customary closing conditions.