Lowe's is buying Foundation Building Materials, a distributor of drywall, insulation and other products, for approximately $8.8 billion as the home improvement retailer intensifies its focus on professional builders.

Home improvement retailer Lowe’s is purchasing the supplier of construction products, at a time when consumer-driven DIY projects have slowed.

It's just the latest building materials distribution megadeal and essentially is Lowe's answer to rival Home Depot buying SRS Distribution in 2024.