Lowe’s makes $1.3 billion acquisition deal to compete with Home Depot

(Gray News) – Lowe’s Companies announced earlier this week it would make a $1.3 billion acquisition in an effort to compete with Home Depot.

Lowe’s said Monday it has entered into an agreement to acquire Artisan Design Group, a leading provider of design distribution and installation services for interior finishes to home builders and property managers.

ADG will expand Lowe’s Pro offering into a new distribution channel within a highly fragmented, approximately $50 billion market, company leaders said.

“We are thrilled for ADG to forces with Lowe’s,” ADG’s CEO Steve Margolius said in a Lowe’s press release. “Our leading position in flooring, cabinets and countertops, combined with Lowe’s scale and category breadth, will allow us to continue on our growth trajectory while providing an even more differentiated and comprehensive offering to the builders and property managers we serve today.”

OSHA reports it is investigating after an employee died at a Lowe’s store.(Mike Mozart/CC BY 2.0 via MGN)

Lowe’s President and CEO Marvin R. Ellison believes the acquisition will allow the company to build on its momentum and “is expected to expand our total addressable market by approximately $50 billion.”

“With its strong, customer-centric operating model, ADG has become an industry leader with best-in-class customer satisfaction scores from the top builders in the U.S.,” Ellison said.

According to the company, Lowe’s will finance the acquisition with cash on hand. The transaction is expected to close in the second quarter of 2025.