Lowe's Companies Inc. announced on October 17, 2025, the successful completion of its acquisition of Foundation Building Materials (FBM), a major distributor of building materials and construction products across the United States. This strategic move is aimed at significantly enhancing Lowe's service offerings to professional contractors, a key growth area for the home improvement retailer. The acquisition provides Lowe's with an expanded product assortment, improved fulfillment capabilities, and a larger footprint in key geographic markets such as California and the Northeast. Marvin R. Ellison, Lowe's chairman, president and CEO, stated that the acquisition is a critical step in accelerating the company's "Total Home" strategy to better serve large professional customers within a substantial addressable market. This development follows a recent patent infringement lawsuit filed against Lowe's by Alpha Modus Corp. concerning AI-driven retail technologies. While the lawsuit introduces a new challenge, the completion of the FBM acquisition is a significant strategic milestone for Lowe's. In other news from the same day, TD Asset Management Inc. reported a decrease in its position in Lowe's stock.