Lowe's acquires Artisan Design Group for $1.3 billion

Lowe's has announced its acquisition of Artisan Design Group (ADG) for approximately $1.325 billion in an all-cash deal, enhancing its service offerings for professional contractors in the interior design sector. ADG specializes in design, distribution, and installation services for flooring, cabinets, and countertops, generating about $1.8 billion in revenue in fiscal 2024. This acquisition is part of Lowe's strategy to capitalize on the anticipated housing market recovery, with CEO Marvin Ellison highlighting the need for over 18 million new homes in the U.S. by 2033. The integration of ADG's network of 3,200 installers into Lowe’s Pro distribution channel is expected to expand its addressable market significantly. The deal is slated to close in the second quarter of 2025, pending regulatory approvals. Both Lowe's and its competitor Home Depot are aiming to capture a larger share of the professional customer market amid a challenging housing environment.