Home improvement retailer Lowe’s (LOW) has announced that it is buying privately held Artisan Design Group, known as ADG, for $1.33 billion U.S.
Artisan Design is a leading provider of flooring, cabinets, and countertops to homebuilders and property managers across the U.S.
Last year, ADG had revenue of $1.80 billion U.S. and claimed to have a national network of over 3,200 specialized installers and long-standing relationships with homebuilders.
Lowe’s said the acquisition of Artisan Design Group will provide it with a new distribution channel in a $50 billion U.S. market.
Lowe’s purchase of ADG moves it further into the market for new home builds and helps it expand beyond the home improvement and renovation market where it has a strong position.
Lowe’s is financing the deal with cash and the transaction is expected to close in the second quarter of 2025, subject to regulatory approvals.
Lowe’s stock has declined 9% so far in 2025 and currently trades at $224.14 U.S. per share.