Lowe’s Companies, Inc. has officially completed its previously announced acquisition of Foundation Building Materials (FBM), a major North American distributor of building materials and construction products with more than 370 locations across the U.S. and Canada. The move marks one of Lowe’s most significant expansions into the professional contractor market to date.
According to the company, the acquisition will strengthen Lowe’s Pro customer strategy, enhancing its capabilities through:
The integration of FBM also opens major regional growth opportunities, particularly across California, the Northeast, and the Midwest, where FBM has a strong presence. Lowe’s expects meaningful cross-selling synergies with both FBM and its recently acquired Artisan Design Group (ADG).
“Completing the acquisition of FBM is an important step in accelerating our Total Home strategy to serve large Pro customers within a $250 billion total addressable market. We would like to extend a warm welcome to the FBM team, and we look forward to building on their proven track record of profitable growth,” said Marvin R. Ellison, Lowe's chairman, president, and CEO.
He added that combining FBM and ADG under the Lowe’s umbrella creates “a comprehensive interior solutions platform to better serve the homebuilder.” Ellison emphasized the company’s positioning to capitalize on a housing market rebound, noting “an estimated 16 million new homes needed in the U.S. by 2033.”
“By expanding our Pro penetration, we also expect to drive more sustainable sales and profit expansion and deliver long-term shareholder value,” Ellison said.
FBM will continue to operate under the leadership of its founder, Ruben Mendoza, along with its established senior management team, who collectively bring over 200 years of industry experience. Lowe’s confirmed that the FBM team will remain committed to delivering excellent service to Pro customers, ensuring a smooth integration process.
With more than 1,700 retail locations and over 300,000 associates, Lowe’s has built its reputation among both homeowners and small-scale contractors. The addition of FBM positions the company to capture a greater share of large-scale commercial construction and remodeling work, a segment traditionally dominated by wholesale distributors like ABC Supply and Ferguson.
The acquisition underscores the growing competition in the Pro contractor supply market, where logistics, credit access, and dedicated service models increasingly determine supplier loyalty.
Originally reported by Corporate Iowe's.
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