HD said it had acquired Blinds.com, whose management team and headquarters will remain in Houston, Texas. Home Depot did not reveal the terms of the transaction. The deal marks the fourth acquisition for Home Depot over the last two years. Among Home Depot’s recent purchases were Redbeacon and U.S. Home Systems, the Wall Street Journal notes.
News of the deal to buy Blinds.com didn’t help HD stock with investors. In Friday morning trading, HD stock sank about 1%.
HD stock has risen about 19% over the past twelve months. Recovering U.S. home sales and rising home prices have reinvigorated home improvement spending, boosting HD stock.
On Thursday, HD stock closed at $80.24 a share. HD stock traded as high as $82 a share in late December.