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Home Depot expands south of the border

ATLANTA — The Home Depot has signed an agreement to acquire Home Mart, the second largest Mexican home improvement retailer.

When the acquisition is completed, Home Depot will acquire 20 Home Mart locations, bringing its total store count in Mexico to 39 stores.

Home Mart will five Home Depot prominence in Mexico City and a store base in seven new markets in the nearly $15 billion Mexican home improvement market, stated the company.

The transaction is subject to approval by the Mexican regulatory authorities. Financial terms were not disclosed.

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