Lowe’s Buys Drywall Company for $8.8 Billion in Bet on Pros

A Lowe's store in Concord, California.Photographer: David Paul Morris/Bloomberg

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By Lily Meier and Jaewon Kang

August 20, 2025 at 10:17 AM UTC

Updated on

August 20, 2025 at 1:42 PM UTC

Lowe’s Cos. agreed to buy Foundation Building Materials for about $8.8 billion in cash, accelerating the home-improvement supplier’s push to serve more professional customers.

Foundation Building, a distributor of drywall and other building products, has a network of over 370 locations in the US and Canada and had about $6.5 billion in sales last year, according to a statement Wednesday. It was acquired by private equity firm American Securities LLC in a deal announced in 2020. Clayton, Dubilier & Rice took a minority stake last year.