Home Depot Buys Interline Brands For $1.6 Billion

Home Depot Inc. announced Wednesday a deal to buy maintenance and repair products seller Interline Brands Inc. for $1.625 billion in cash. The deal is expected to close during Home Depot's fiscal third-quarter ending Nov. 1, and add to the home improvement retailer's earnings in fiscal 2015. "Interline is a well-run company that has achieved impressive financial results over the last few years," said Home Depot Chief Executive Craig Menear. "With their seasoned leadership team, we will enhance our ability to serve the Pro--both in the store and at any desired location outside of the store--driving significant value for our customers and shareholders." Home Depot's stock, which was little changed in premarket trade, has climbed 8.5% year to date, while the Dow Jones Industrial Average has gained 0.5%.