Lowe’s Companies Inc. (NYSE: LOW) is acquiring Artisan Design Group (ADG), a nationwide provider of interior surface finishes, for $1.3 billion.
Dallas-based ADG offers design, distribution and installation services for interior surface finishes including flooring, cabinets and countertops, to national, regional and local homebuilders and property managers. The company generated roughly $1.8 billion in fiscal 2024 revenue and operates a network of over 3,200 specialized installers working with single-family and multifamily homebuilders as well as property managers.
Lowe’s will finance the acquisition with cash on hand. Marvin R. Ellison, Lowe’s chairman, president and CEO, stated, “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 US. 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.”
“We are thrilled for ADG to join forces with Lowe’s,” added Steve Margolius, ADG’s CEO. “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.”
Photo courtesy Mike Mozart / Flickr Creative Commons
