The Home Depot in $1.625 Billion Acquisition of Interline Brands

July 22, 2015

Cleary Gottlieb is representing The Home Depot in its acquisition of Interline Brands for $1.625 billion in cash, which was announced today. Under the terms of the merger 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.

Cleary Gottlieb has been handling corporate law assignments for The Home Depot for over a decade, including the acquisitions of White Cap (2004), National Waterworks (2005), Greenwald Industrial (2005), Hughes Supply (2006), Red Beacon (2012) and BlackLocus (2012).

The Home Depot is the world’s largest home improvement specialty retailer, with 2,270 retail stores. In fiscal 2014, The Home Depot had sales of $83.2 billion and earnings of $6.3 billion.

Interline is a leading distributor and direct marketer of maintenance, repair and operations (MRO) products with headquarters in Jacksonville, Florida. Interline is currently owned by Goldman Sachs Capital Partners, P2 Capital Partners and management.