The Home Depot Announced Agreement To Acquire Interline Brands

Bill Lennie was appointed executive vice president of sales and external services

Atlanta, GA /PRNewswire/ - The Home Depot, the largest retailer in the world of home improvement items, today announced its participation in a definitive agreement to acquire Interline Brands, Inc., a national leader in the distribution sector and direct marketing of products for maintenance, repair and operations (MRO) range with headquarters in Jacksonville, Florida.

Under the agreement, The Home Depot will acquire Interline by $ 1,625 million in cash, amount subject to customary adjustments. It is expected that the acquisition, approved by shareholders of Interline, is completed during the third quarter of fiscal year of The Home Depot ending November 1, 2015. The transaction is subject to approval under the rules of the case and other conditions typical of this type of closure.

The transaction is expected to be reflected in earnings from The Home Depot in fiscal 2015. The company will update the projection of its sales and diluted earnings per share for fiscal 2015 to include the impact of this transaction when presenting the report its financial results for the second quarter on August 18, 2015.

"Addressing the needs of our customers Pro is one of the main priorities of The Home Depot," said Craig Menear, president of the Board, CEO and President of The Home Depot. "Interline is a well-managed company that has achieved impressive financial results in recent years. With its experienced management team will improve our ability to serve the Pro customers both in store as anywhere where we need out of the store, pushing a significant value for our customers and shareholders. "

Interline provides a force with extensive experience in foreign sales, logistics capabilities in the market for maintenance, repair and operations residential sector, and an extensive distribution network of over 90 locations throughout the US, Canada and Puerto Rico.

"We are delighted for our customers and employees of the agreement between Interline Brands and The Home Depot to join forces," said Michael Grebe, president and CEO of Interline. "We hope that everyone will benefit from this exciting new stage in the history of our company."

The Home Depot also announced today that Bill Lennie, president of The Home Depot Canada, has been named executive vice president of sales and external services. In this newly created position, Mr. Lennie will have responsibility for conducting business customers Pro, maintenance, repair and operation and installation of The Home Depot, including the integration of Interline.

Under the leadership of Mr. Lennie, The Home Depot Canada has achieved positive comparable sales in the last 14 quarters. His previous responsibilities have included merchandise, global sourcing, own brands and supervision of Your Other Warehouse (YOW), distributor of plumbing owned by The Home Depot.

"With over 20 years of experience at The Home Depot, Bill not only provides a record of extraordinary achievement, but also a large experience with the entire organization," said Waggle. "Bill is the ideal place to continue driving growth in these areas of our business option."

Mr. Lennie continue to lead The Home Depot Canada until the appointment of a successor.

The financial advisor to The Home Depot in this transaction is BofA Merrill Lynch and legal advisor to the company's Cleary Gottlieb Steen & Hamilton LLP.

About The Home Depot
The Home Depot is the improvement specialty largest home in America with 2,270 retail stores in all 50 states retailer, the District ofColumbia, Puerto Rico, the US Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2014, The Home Depot had sales of $ 83,200 million and earnings of $ 6,300 million. The company employs more than 370,000 associates. Shares of The Home Depot is listed on the Stock Exchange of New York (NYSE: HD) and is included in the Dow Jones industrial average and the Standard & Poor's 500 index.

About Interline Brands
Interline Brands, Inc. is a national leader in the distribution and direct marketing, and is headquartered in Jacksonville, Florida. As one of the largest distributors of products for maintenance, repair and operations facilities range in the United States, Interline serves more than 175,000 customer service points and holds leading positions in the final markets institutional category, multifamily and residential housing. Interline is currently owned by Goldman Sachs Capital Partners, P2 Capital Partners, LLC and management.

Certain statements contained in this press release may constitute "forward looking statements" as defined in the Reform Act Private Securities Litigation 1995. These forward-looking statements may relate, among other things, the demand for products and services of The Home Depot and Interline; the growth of net sales; Similar sales in stores; the effects of competition; the state of the economy;the state of the residential construction, housing market and the market for home improvements; the situation in the credit markets, including mortgages, second mortgages and consumer credit; demand for credit offers; the inventory situation and stocks;implementation of store initiatives, the interconnected retail and supply chain; management of relations with suppliers and Interline The Home Depot; the impact and the expected outcome of the investigations, inquiries, claims and litigation, including those linked to the violation data from The Home Depot made public in September 2014; issues related to methods of payment accepted The Home Depot and the timing of updates and improvements that affect devices in retail outlets; the continuation of the share repurchase program; the evolution of net profits; earnings per share; dividend objectives; capital allocation and expenditures; liquidity; the return on invested capital; expense leverage; the stock compensation expense; inflation and deflation in the prices of raw materials; the ability to issue debt on terms and subject to acceptable rates for The Home Depot; the effect of accounting charges; the effect of adopting certain accounting standards; the opening and closing of stores; the projection for fiscal year 2015 and beyond; the financial picture; the successful closing of the acquisition of Interline; Interline consequent integration of the organization of The Home Depot and the ability to recognize the anticipated benefits and synergies of the acquisition of Interline, and the risk that necessary regulatory approval for the proposed transaction is not obtained, or is delayed subject to unanticipated conditions.

Forward-looking statements are based on currently available information and assumptions, expectations and projections of The Home Depot about future events. You should not base their actions on these forward-looking statements. These statements are not guarantees of future performance and are subject to events, future risks and uncertainties, many of which are beyond the control of The Home Depot or you are currently unknown, as well as potentially inaccurate assumptions that could cause actual results to differ materially your expectations and projections. These risks and uncertainties include but are not limited to those described in Item 1A, "Risk Factors" and elsewhere in the annual report of The Home Depot on Form 10-K for the fiscal year ended February 1, 2015 and subsequent quarterly reports on Form 10-Q.

Forward-looking statements are only as of the date they were issued, and The Home Depot assumes no obligation to update such statements beyond what is required by law. However, you are advised to review any further disclosures that the company makes on related subjects in their periodicals to the presentations and Exchange Commission Securities of the United States.