Lowe’s Companies Inc. has struck a definitive agreement to buy Foundation Building Materials for approximately $8.8 billion in cash, accelerating the home-improvement retailer’s push into the professional contractor segment. The deal is the largest in Lowe’s recent expansion strategy aimed at capturing a greater share of spending by builders and remodelers. Santa Ana, California-based FBM distributes drywall, metal framing, ceiling systems and other interior construction products through more than 370 locations in the United States and Canada. The company generated about $6.5 billion in revenue and $635 million in adjusted EBITDA in 2024, serving roughly 40,000 professional customers. Lowe’s plans to finance the purchase with a combination of short- and long-term debt, backed by a $9 billion committed bridge facility, and intends to maintain its current credit ratings. The transaction is slated to close in the fourth quarter of 2025, subject to regulatory clearance, and is expected to add to adjusted earnings within the first year after completion. Alongside the acquisition announcement, Lowe’s reported stronger-than-expected second-quarter results and lifted its full-year revenue guidance to between $84.5 billion and $85.5 billion. Adjusted earnings of $4.33 a share topped analyst estimates, and the stock rose roughly 2% in early trading. The purchase follows Lowe’s $1.33 billion acquisition of Artisan Design in April and counters rival Home Depot’s recent deals, underscoring intensifying competition for the roughly $250 billion professional builder market.