The home renovation retailer Lowe’s announced earlier this week.
The ADG, whose headquarters are in Dallas, Texas, is a “first national design, distribution and installation service provider” which focuses on floor coverings, cabinets and counters, according to a press release on April 14, announcing the move.
The design company currently operates 132 distribution, design and service facilities and coordinates the installation through more than 3,200 staff members in 18 states, according to the announcement.
Lowe’s said the ADG will help extend LOWE’s professional activities on the interior finishing market of around 50 billion dollars.
“With more than 18 million houses necessary in the United States by 2033, we expect the construction of new houses will be a main engine of expenses planned for the next decade,” said Marvin R. Ellison, president, president and chief executive officer of Lowe, in a statement. “The acquisition of ADG allows us to rely on our momentum with planned expenses and should extend our total addressable market of around 50 billion dollars.”
The transaction should end in the second quarter of 2025, according to the press release.
Home Depot acquired SRS distribution in June 2024
The biggest competitor in Lowe, Home Depot, acquired the SRS distribution for just over $ 18 billion in June 2024.
According to a press release at the time, SRS “was a leader with the Speciality Trade Pro in roof, in landscaping and in swimming pools”, and the move was intended to supplement “Pro capacities Home Depot is already built and will help us to better serve purchases of complex projects”.
“SRS is an excellent adjustment for the Home Depot,” said Ted Decker, President, and CEO of Home Depot, in a statement last June. “Their ability to quickly develop management positions in each of their trade places of trade is a testimony to the strong vision, leadership, culture and the execution of the team.”
“The exceptional customer, capacities and expertise of SRS will help us stimulate the value of our customers, partners and shareholders,” Decker said in the press release.
At the time of acquisition, SRS has operated more than 760 branches in 47 states in the United States
Gabe Hauari is a national news journalist in USA Today. You can follow him on x @Gabehauari Or send him an email to gdhauari@gannett.com.
