From Yahoo Finance: 2025-04-15 05:09:00

Lowe’s Companies acquires Artisan Design Group for $1.32bn to expand professional services. ADG offers interior design, distribution, and installation services, with FY2024 revenue of $1.8bn. ADG’s integration will enhance Lowe’s Pro division, tapping into a $50bn market with a network of 3,200 installers and strong customer relationships.

Lowe’s CEO Marvin Ellison anticipates growth in new-home construction, driving Pro planned spend. The acquisition of ADG is expected to increase Lowe’s total addressable market by $50bn. ADG’s customer-centric model and industry leadership position will enhance Lowe’s offering to Pro customers, strengthening their combined capabilities.

ADG CEO Steve Margolius looks forward to joining forces with Lowe’s, leveraging their scale and category breadth for continued growth. Lowe’s, serving 16 million customer transactions weekly with $83bn in FY2024 sales, plans to finance the acquisition with cash on hand. The transaction is set to close in Q2 2025, subject to regulatory approvals.

Lowe’s is advised by Centerview Partners, Greenhill, and Covington & Burling, while ADG’s advisors are RBC Capital Markets, Goldman Sachs, and Latham & Watkins. In 2023, ADG expanded its portfolio by acquiring Peachtree Cabinet Distributors and GranCo Countertops. The acquisition is expected to enhance offerings to builders and property managers.

The acquisition of ADG by Lowe’s for $1.32bn is set to be finalized in Q2 2025, pending regulatory approvals. Lowe’s plans to fund the acquisition with available cash. ADG’s integration is expected to strengthen Lowe’s position in the market, offering an expanded range of services to Pro customers.

Read more: Lowe’s signs definitive agreement to acquire ADG for $1.32bn