Home Depot (NYSE: HD) is growing its do-it-yourself empire with the acquisition of Blinds.com. The company announced on Thursday that it had purchased the e-commerce company in a move to expand into the growing window treatment market.
"(Blinds.com's) unique sales and service model is one we hope to learn from as we continue to create even better interconnected retail experiences for our customers," said Frank Blake, chairman and CEO of Home Depot.
Home Depot plans to keep Blinds.com's management team and staff intact at its home office in Houston. Blinds.com was founded in 1996, and now covers more than a million windows a year.
Home Depot has acquired at least four companies since early 2012. Other recent acquisitions include the purchases of kitchen and storage supplier U.S. Home Systems and home services specialist Redbeacon.
Home Depot has enjoyed strong sales in recent months as the recovering housing market, which took a major plunge during the financial crisis of 2009, has led to a growth in spending among professional contractors and homeowners. In its most recent earnings statement, Home Depot also noted it is on track to meet long-term financial goals a year earlier than expected, reaching an operating margin of around 12 percent and a return on invested capital of 24 percent by the end of 2014.
For more see:
-The Home Depot press release
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