Lowe’s Companies Inc. (NYSE: LOW) has agreed to acquire Texas-based Artisan Design Group (ADG) for $1.325 billion.
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ADG is a national provider of design, distribution and installation services for interior surface finishes, including flooring, cabinets and countertops to national, regional and local homebuilders and property managers.
ADG operates 132 distribution, design and service facilities across 18 states.
ADG reported 2024 revenue of $1.8 billion; with over 3,200 specialized installers, ADG will expand Lowe’s Pro offering into a new distribution channel within a $50 billion market.
“With more than 18 million homes needed in the United States by 2033, we expect new home construction will be a major driver of Pro planned spend for the next decade. The acquisition of ADG allows us to build on our momentum with Pro planned spend and is expected to expand our total addressable market by approximately $50 billion,” said Marvin R. Ellison, Lowe’s president and CEO.
Lowe’s operates over 1,700 home improvement stores.
