Lowe’s has entered a definitive agreement to purchase Artisan Design Group (ADG) for $1.325 billion, which the home improvement retailer will finance with cash on hand. The acquisition is expected to close in Q2 2025, subject to customary closing conditions.
ADG, which generated approximately $1.8 billion in FY 2024 revenue, provides design, distribution and installation services for interior surface finishes through a national network of more than 3,200 specialized installers and longstanding relationships with home builders and property managers.
“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,” said Marvin Ellison, Chairman, President and CEO of Lowe’s in a statement. “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.”
“We are thrilled for ADG to join forces with Lowe’s,” said Steve Margolius, CEO of ADG in a statement. “Our leading position in flooring, cabinets and countertops, combined with Lowe’s scale and category breadth, will allow us to continue on our growth trajectory while providing even more differentiated and comprehensive offerings to the builders and property managers we serve today.”
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