By Denny Jacob

Home Depot agreed to acquire International Designs Group from private equity firm Mill Point Capital.

Terms of the deal weren't disclosed.

The home-improvement giant said International Designs Group is a platform company that owns and operates Construction Resources and other design-oriented subsidiaries. It added that Construction Resources is a leading distributor of products for professional contractors, an addressable market in which its working to capture a larger share.

"Almost all Pros interact with The Home Depot, but their level of engagement varies based on the complexity of their projects. We're building capabilities to ensure we can serve all Pros across all their project needs," said Chief Executive Ted Decker.

The acquisition is expected to close by the end of 2023.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

November 20, 2023 16:54 ET (21:54 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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