In a press release date May 18, 2017 Lowe’s Companies (LOW) has announced that it has reached an agreement to acquire Maintenance Supply Headquarters for $512 Million dollars.
Maintenance Supply Headquarters is a Huston, Texas based company that operates 13 distribution centers located in the western. southeastern and south central United States. It covers 29 geographical areas and has a catalog of more than 5,300 products and services which targets maintenance and restoration of multi-family dwellings.
This acquisition fits in with Lowe’s previously announced plan to expand upon its relationship with its Pro customer base.