Lowe’s Acquires Smaller Competitor in Massive $8.8-B Deal

Lowe’s, one of the nation’s leading home improvement chains, has acquired competitor Foundation Building Materials (FBM) in an $8.8 billion deal.

The FBM acquisition marks Lowe’s second major buyout in 2025. (Photo: Lowe's Home Improvement Facebook

The move marks a milestone in the home improvement giant’s plan to expand its professional, or “Pro-customer,” offerings, Dallas Gagnon reported for MassLive.

Lowe’s operates more than 1,700 home improvement stores nationwide, while FBM operates more than 370 locations across the United States 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 earlier acquired Artisan Design Group, an interior finishing supply company.

Ellison said the two acquisitions position Lowe’s to build “a comprehensive interior solutions platform to better serve the homebuilder” and expand its market penetration.

FBM will continue to be led by its founder, Ruben Mendoza, and its senior leadership team.