Home improvement chain Lowe’s has finalized its $8.8 billion acquisition of California-based Foundation Building Materials (FBM). FBM, which operates over 370 locations in the US and Canada, is a leading distribution company for building materials and construction products.
Lowe’s aims to serve large professional customers with a $250 billion market opportunity. The acquisition complements Lowe’s existing purchase of Artisan Design Group, expanding its market reach. FBM will continue to operate separately, led by founder Ruben Mendoza. This deal positions Lowe’s for growth in the housing market, where an estimated 16 million new homes are needed by 2033.
CEO Marvin R. Ellison notes that the acquisition drives profitable growth and long-term shareholder value, further establishing Lowe’s as a leading player in the home improvement industry.
Source: https://www.mlive.com/news/2025/10/home-improvement-chain-buys-competitor-in-88-billion-deal.html