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Lowe’s announced it has completed its acquisition of Foundation Building Materials (FBM), a building materials distribution company with over 370 locations across the U.S. and Canada.
Through the acquisition, Lowe’s will be expanding its pro customer offerings and faster fulfillment. 2025 has been the year of expansion for Lowe’s, as it recently completed the acquisition of Artisan Design Group.
“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,” says Marvin. R. Ellison, Lowe’s chairman, president and CEO. “Together with our recent acquisition of ADG, we are creating a comprehensive interior solutions platform to better serve the homebuilder. With these acquisitions, Lowe’s will be well-positioned to expand our market penetration and capitalize on the expected recovery in housing, with 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.”
FBM will continue to be led by its founder, Ruben Mendoza, and its senior leadership team.
See how Lowe’s performed in Q2 2025, here.
