ATLANTA -- The Home Depot Inc., the nation's largest home improvement store chain, said Monday it has bought the Chem-Dry carpet and upholstery cleaning provider to add to its home installation business.
Terms of the deal between Atlanta-based Home Depot and Logan, Utah-based Chem-Dry were not disclosed.
Chem-Dry will become part of Home Depot's at-home services division, which provides installations of flooring, roofing and cabinetry. Chem-Dry's leadership team will remain in place, Home Depot said.
Home Depot said it has not been determined yet if the Chem-Dry franchises will be carrying the Home Depot name.
Home Depot, with 2,012 stores in the United States, Canada and Mexico and 325,000 employees, recorded $73.1 billion in revenue in 2004.
It has not reported full-year revenue for 2005 yet. Chem-Dry, a privately held company with 65 corporate employees and 4,000 franchises worldwide, does not list revenue figures on its Web site.
Officials for Chem-Dry and Home Depot did not disclose how many people work at the independently owned and operated franchises, nor how much Chem-Dry's annual revenue was last year.
It has not been determined yet if the Chem-Dry or Home Depot or both possibly both will be branded on the service.
This story appeared in The Daily Herald on page D6.
Posted in Business on Monday, January 9, 2006 11:00 pm
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