The Associated Press | Posted: Monday, January 9, 2006 11:00 pm
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.