Lowe’s completes $8.8bn acquisition of Foundation Building Materials

Core Insights - Lowe's Companies has completed the acquisition of Foundation Building Materials (FBM) for $8.8 billion, announced in August 2025, enhancing its service offerings to professional customers [1][2][5] - The acquisition aims to expand Lowe's market presence in key regions and align operations with Artisan Design Group, targeting a $250 billion total addressable market [2][3] - The deal is expected to support Lowe's strategy for sustainable sales growth and long-term shareholder value, with an anticipated demand for 16 million new homes in the US by 2033 [3] Company Overview - FBM, established in 2011 and headquartered in Santa Ana, California, operates over 370 locations across the US and Canada, while Lowe's operates more than 1,700 home improvement stores [4] - The leadership of FBM will remain under its founder, Ruben Mendoza, and the existing senior management team post-acquisition [3][4] Financial Performance - In Q2 2025, Lowe's reported net earnings of $2.4 billion and total sales of $24 billion, with diluted earnings per share increasing to $4.27 from $4.17 in Q2 2024 [5]