Lowe’s Completes Acquisition of Artisan Design Group

Lowe’s Companies, Inc. announced it has completed its previously announced acquisition of Artisan Design Group (“ADG”), a leading nationwide provider of design, distribution and installation services for interior surface finishes to home builders and property managers.

“We are pleased to complete this transaction and officially welcome the talented ADG team to Lowe’s. ADG has built an industry-leading position through consistent execution and outstanding customer service, earning strong customer satisfaction scores from the top homebuilders,” said Marvin R. Ellison, Lowe’s chairman, president and CEO. “This acquisition positions us to accelerate our growth in Pro planned spend and expand into an adjacent distribution channel in a highly fragmented, approximately $50 billion market.”

Advisors

Centerview Partners LLC is acting as lead financial advisor to Lowe’s. Greenhill, a Mizuho affiliate, is also acting as financial advisor to Lowe’s. Covington & Burling LLP is acting as legal advisor to Lowe’s. RBC Capital Markets is acting as lead financial advisor to ADG. Goldman Sachs and Robert W. Baird are also acting as financial advisors to ADG. Latham & Watkins LLP is acting as legal advisor to ADG.

About Lowe’s

Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the U.S., where Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Source: Lowe’s Companies, Inc.