Lowe’s Targets Professional Customers in $1.3 Billion Deal

Lowe’s Cos. has agreed to buy an interior services provider for around $1.3 billion, the retailer’s latest effort to expand its footprint with professional contractors amid a soft housing market.

Artisan Design Group serves homebuilders and property managers, offering design, distribution and installation services for interior surface finishes such as cabinets and countertops. The company generated some $1.8 billion of revenue in fiscal 2024.

Like its bigger rival Home Depot Inc., Lowe’s has set its sights on professional customers who typically manage larger, more complex projects and spend more than do-it-yourself customers. Home Depot shelled out over $18 billion ...