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The Home Depot Moves Into China
The Home Depot Inc. has plans to expand into China with its purchase of The Home Way, the first “big box” home improvement retail chain in that country.
The definitive agreement between The Home Depot and The Home Way has been signed, and necessary Chinese government regulatory approvals have been received, writes DM News.
The Home Way operates 12 stores in six Chinese cities, and is headquartered in Tianjin.
The Home Depot’s acquisition follows Office Depot’s entry into China in September, when it signed a definitive agreement to gain a controlling interest in AsiaEC, one of the largest sellers of office products in China.