Hyundai will buy the home department stores of home remodeler Shawen’s and Home Depot for $8.4 billion, the company announced Thursday.
The deal was announced at the annual Consumer Electronics Show in Las Vegas, where Hyundai is the world’s largest auto company.
The home remodeling company operates about 400 stores in the U.S. and is expanding in Asia and Europe.
It is the largest home improvement retailer in the world and operates more than 1,000 stores across the U, U.K., Canada and Mexico.
The company said it expects to bring in $5 billion in revenue over the next four years.
The two companies are expected to create nearly 3,400 jobs.
The announcement comes on the heels of Hyundai announcing last week that it plans to buy more than 600,000 U..
S.-based manufacturing jobs.
Hyundai’s new purchase of Home Depot, which has nearly 20,000 employees, follows Hyundai’s purchase of the Home Depot in 2015.
Hyundai and Home Department Store will remain headquartered in the United States, the two companies said.