Home improvement retailer Lowe’s has completed its previously announced acquisition of Foundation Building Materials (FBM), a building materials and construction products distributor with more than 370 locations across the U.S. and Canada.

It took less than two months from the Aug. 20 initial announcement date for the deal to finalize.

Purchased from private equity firms American Securities and Clayton, Dubilier & Rice for $8.8 billion, FBM is expected to enhance Lowe’s offering to Pro customers. FBM is ranked No. 11 on MDM’s 2025 Top Distributors List for Building Materials/Construction on its $3.04 billion in 2024 revenue.

The deal comes on the heels of Lowe’s acquisition of interior finishes distributor Artisan Design Group from private equity firm Sterling Group for $1.33 billion.

“Together with our recent acquisition of ADG, we are creating a comprehensive interior solutions platform to better serve the homebuilder. With these acquisitions, 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.”