Lowe's to Acquire Foundation Building Materials

Mooresville, NC, August 21, 2025-Lowe's has entered into a definitive agreement to acquire Foundation Building Materials (FBM) for approximately $8.8 billion.

FBM is a North American distributor of interior building products, including drywall, metal framing, ceiling systems, commercial doors and hardware, insulation and complementary products serving large residential and commercial professionals in both new construction and repair and remodel applications. Since 2011, FBM has grown organically and inorganically to become an industry leader, with a network of over 370 locations in the United States and Canada serving 40,000 Pro customers. In 2024, on a pro forma basis, FBM generated approximately $6.5 billion in revenue and $635 million in adjusted EBITDA2. It generated approximately 25% and 30% CAGR for revenue and adjusted EBITDA, respectively, from 2019 to 2024.

FBM is expected to accelerate Lowe's Total Home strategy by enhancing its offering to Pro customers through expanded capabilities, faster fulfillment, improved digital tools, a robust trade credit platform, and significant cross-selling opportunities between FBM and Lowe's as well as the recently acquired Artisan Design Group. By combining these acquisitions with Lowe's existing offering, the Company will create a premier platform to better serve the large Pro, especially in planned spend.

In April 2025, Lowe's acquired Artisan Design Group.