In a strategic move unveiled on August 20, 2025, Lowe’s Companies Inc. agreed to acquire Foundation Building Materials (FBM) for approximately $8.8 billion, marking a bold push into the professional builder market. FBM, headquartered in Santa Ana, California, operates a vast network of over 370 locations across the U.S. and Canada, serving around 40,000 Pro customers with interior construction essentials like drywall, metal framing, ceilings, insulation, and hardware.
This acquisition reinforces Lowe’s “Total Home” strategy, aiming to deliver faster fulfillment, enhanced digital tools, trade credit capabilities, and cross-selling opportunities—especially when combined with its April purchase of Artisan Design Group. Lowe’s CEO Marvin Ellison emphasized that the move aligns with its transformation plan to better serve the lucrative $250 billion professional builder segment.
The company is financing the deal through a blend of short- and long-term debt, with expected closing in Q4 2025, pending required approvals. Alongside the acquisition, Lowe’s reported strong Q2 earnings—adjusted EPS of $4.33 beating expectations—prompting a raised full-year revenue outlook of $84.5 billion to $85.5 billion.
As Lowe’s sharpens its focus on contractors, competition in the pro segment is heating up, particularly with Home Depot pursuing similar acquisitions.
