Lowe's, one of the nation's leading home improvement chains, recently acquired competitor Foundation Building Materials in a massive $8.8 billion deal.
The move marks a milestone in the home improvement giant's strategy to expand its professional or "Pro-customer" offerings.
Lowe's operates more than 1,700 home improvement stores nationwide.
FBM operates more than 370 locations across the U.S. and Canada.
"Completing the acquisition of FBM is an important step in accelerating our Total Home strategy to serve large pro customers within a $250 billion total addressable market," Marvin. R. Ellison, Lowe's chairman, president and CEO said .
"We would like to extend a warm welcome to the FBM team, and we look forward to building on their proven track record of profitable growth."
The FBM acquisition marks Lowe's second major buyout in 2025. The chain bought Artisan Design Group — an interior finishing supply company — earlier this year.
Ellison said the two acquisitions set the company up for " a comprehensive interior solutions platform to better serve the homebuilder," and will allow the chain to "expand our market penetration."
FBM will continue to be led by its founder, Ruben Mendoza and its senior leadership team.
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