In its second-largest acquisition, Amazon buys the company for $970 million.
The Top 500 retail chain earlier announced a major investment in its e-retail business.
The Home Depot Inc. has opened the first of three expected e-commerce warehouses, this one in Locust Grove, GA, a suburb of Atlanta.
Home Depot is No. 46 in the Internet Retailer 2013 Top 500 Guide.
Today’s announcement follows the chain’s revelation last year that it would focus more on mobile commerce, same-day shipping of web orders and enabling online consumers to have products delivered from stores—all part of a $300 million investment plan to boost e-retail, warehouse and supply chain capabilities. The chain also plans to open warehouses in California and Ohio over the next two years.
In all, Home Depot says it expects to build 3 million square feet of fulfillment space. The three warehouses will stock some 100,000 products each. By comparison, a typical Home Depot store carries 35,000 products, the chain says.
"This is a significant investment in our ability to say ‘yes’ to customers with confidence,” says Mark Holifield, Home Depot’s senior vice president, supply chain. "Yes, you have access to our entire inventory to fulfill your order. Yes, you can expect a speedy delivery. And yes, you can rely on information updates about your delivery.”
The Locust Grove facility initially employs 125 workers, Home Depot says, though plans call for 300 workers in all. The chain will build the other warehouses in Perris, CA, located in Southern California, in Riverside County southeast of Los Angeles; and Troy, OH, which is north of Dayton.