The deal is expected to close in the second quarter of 2025.
DALLAS — Lowe’s is buying a Dallas-based interior design company in a more than $1 billion deal.
The massive home improvement retailer announced Monday it was buying Dallas-based Artisan Design Group for $1.33 billion.
Lowe’s will finance the deal with cash in hand, and the transaction is expected to close in the second quarter of 2025, pending regulatory approval and other closing requirements, according to a press release.
Artisan Design Group specializes in design, distribution and installation services, such as flooring, cabinets and countertops, to national, regional and local homebuilders and property managers.
“With more than 18 million homes needed in the United States by 2033, we expect new home construction will be a major driver of Pro planned spend for the next decade. The acquisition of ADG allows us to build on our momentum with Pro planned spend and is expected to expand our total addressable market by approximately $50 billion,” said Lowe’s CEO Marvin R. Ellison. “With its strong, customer-centric operating model, ADG has become an industry leader with best-in-class customer satisfaction scores from the top builders in the U.S. We look forward to welcoming the ADG team to Lowe’s, and, through our combined capabilities, enhancing our offering to our expanded Pro customer base.”
Artisan Design Group is expected to expand Lowe’s Pro offering into a new distribution channel with its network of more than 3,200 specialized installers and homebuilders and revenue of about $1.8 billion in fiscal year 2024, according to a press release.
“We are thrilled for ADG to join forces with Lowe’s,” ADG CEO Steve Margolius said. “Our leading position in flooring, cabinets and countertops, combined with Lowe’s scale and category breadth, will allow us to continue on our growth trajectory while providing an even more differentiated and comprehensive offering to the builders and property managers we serve today.”
Artisan Design Group was formed in 2016 and now operates 132 distribution, design and service facilities in 18 states, according to a press release.
