National home improvement chain Lowe’s finalized an $8.8 billion deal this week to acquire one of its competitors. On Thursday, the company confirmed it had completed the purchase of California-based Foundation Building Materials (“FBM”).

FBM is a leading building materials and construction products distribution company that has more than 370 locations in the U.S. and Canada.

“Completing the acquisition of FBM is an important step in accelerating our Total Home strategy to serve large Pro customers within a $250 billion total addressable market. We would like to extend a warm welcome to the FBM team, and we look forward to building on their proven track record of profitable growth,” said Marvin. R. Ellison, Lowe’s chairman, president, and CEO.

Founded in 2011, FBM carries several types

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