Lowe’s has successfully acquired Foundation Building Materials (FBM), a wholesale distributor of building materials and construction products. This comes about two months after the home improvement retailer announced it would be purchasing FBM for $8.8 billion in August.
Lowe’s noted the acquisition’s success in a press release on Thursday, Oct. 9. This completed deal is expected to enhance its offerings to professional builders by providing a wider variety of products, faster fulfillment times, improved digital tools, and a robust trade credit platform.
“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,” began Marvin. R. Ellison, Lowe’s chairman, president, and CEO, in a statement.” 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.”
Ellison also highlighted Lowe’s acquisition of Artisan Design Group (ADG) in June 2025, noting that these two deals will help the retailer better serve homebuilders.
“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,” Ellison continued.
FBM currently has 370 locations across the United States and Canada and serves about 40,000 customers. It primarily sells to construction professionals and not the general public, meaning this acquisition won’t significantly affect regular Lowe’s customers.
FBM locations offer contractors and other tradespeople a local supply of building materials like drywall, plaster, stucco, and more. Additionally, FBM sells a wide variety of commercial-grade construction tools and supplies for residential and commercial projects.
Following this acquisition, FBM founder, Ruben Mendoza, and the company’s senior leadership team will still continue to lead FBM.
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