Lowe’s Cos to buy Foundation Building Materials for $8.8 billion, bolstering presence in professional builder market. Shares rise 2%, annual sales forecast raised. Competing with Home Depot, Lowe’s aims to capture pro market share. Recent acquisitions include Artisan Design and FBM. Deal expected to close in Q4 2025.

Foundation Building Materials supplies construction products to 40,000 professional customers in U.S. and Canada. Lowe’s CEO expects FBM’s platform to enhance their Pro offering. Home Depot maintains annual forecasts, focusing on maintenance projects and demand from contractors. Lowe’s to finance deal with debt mix, expecting total annual sales of $84.5-$85.5 billion.

Lowe’s beats Q2 profit estimates, earning $4.33 per share on an adjusted basis. Home Depot and Lowe’s expand into professional builder market through acquisitions. Competition heats up as companies focus on pro distribution. Lowe’s expects deal with Foundation Building Materials to close in Q4 2025.

Read more at Yahoo Finance: Lowe’s to buy Foundation Building Materials for $8.8 billion to boost contractor business