Watsco to Acquire The Granite Group

Watsco agreed to acquire The Granite Group, a family-led plumbing and HVAC products distributor headquartered in Concord, New Hampshire, with approximately $500 million in annual sales and 82 locations across seven Northeast states. The deal, for disclosed aggregate consideration of $505 million consisting of 80% cash and 20% Watsco common stock, remains pending customary closing conditions and regulatory approval; Granite is expected to continue operating independently under its existing management.