Overview
- The company confirmed completion of the FBM purchase, with the transaction having closed in October after an August announcement.
- FBM will operate as a separate business led by founder Ruben Mendoza and its existing senior leadership team.
- Lowe’s says Pro customers will see expanded product assortment, faster fulfillment, improved digital tools, and a stronger trade credit platform.
- FBM brings about 370 locations across the U.S. and Canada and serves roughly 40,000 professional contractors and builders with drywall, metal framing, ceilings, doors, hardware, and insulation.
- Executives frame the purchase, alongside the earlier ADG acquisition, as advancing the Total Home strategy in a $250 billion Pro market with growth opportunities in California, the Northeast, and the Midwest, and potential housing recovery tailwinds.