Lowe is the acquisition of North Texas Design Group worth 1.3 billion US dollars

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Dallas – – Lowe’s agreed to acquire a design company based in North Texas worth $ 1.325 billion, the company said on Monday.

Lowe’s Buys Design Company for 1.3 billion US dollars

What we know:

Lowe has concluded an agreement on the acquisition of ArtiSan Design Group (ADG) for $ 1.325 billion. The deal is expected to be completed in the second quarter of 2025 and financed with cash.

What is ADG?

Grab deeper:

The Artisan Design Group is a company based in Dallas that offers design, sales and installation services for residential buildings that specialize in floor coverings, cupboards and worktops. It is considered one of the leading interior design companies in the United States with reported in 2024 income of approximately 1.8 billion US dollars.

The acquisition is expected to strengthen Lowe’s pro business on the interior of around 50 billion US dollars.

What you say:

“The takeover of ADG enables us to build expenditure on our dynamics with pro -planned expenses, and we are expected to expand our entire addressable market by around 50 billion US dollars,” said Marvin R. Ellison, Chairman, President and CEO of Lowe.

“Our leading position in floors, cupboards and worktops in combination with Lowe scale and the width of the category will enable us to continue our growth structure and at the same time to offer the builders and real estate administrators that we use today,” said Steve Margolius, CEO from ADG.