Overview
- Lowe’s confirmed it has completed the roughly $8.8 billion purchase of California-based Foundation Building Materials.
- FBM will continue operating as a separate unit under its existing senior leadership and founder Ruben Mendoza.
- The company says the acquisition broadens Pro offerings with a wider assortment, faster fulfillment, enhanced digital tools, and a trade-credit platform.
- The move expands Lowe’s presence for professional customers in California, the Northeast, and the Midwest across FBM’s U.S. and Canadian footprint.
- Lowe’s frames the deal as advancing its Total Home strategy for large Pro accounts within an estimated $250 billion market, following June’s Artisan Design Group acquisition and expectations for a U.S. housing recovery with about 16 million new homes needed by 2033.