Lowe’s announces acquisition

MOORESVILLE, N.C. — Lowe’s announced it has reached an agreement to purchase Maintenance Supply Headquarters, a distributor of maintenance, repair, and operations products to the multifamily housing industry, for a total value of $512 million. Based in Houston, Maintenance Supply Headquarters operates 13 distribution centres serving customers primarily in the western, southeastern, and south central U.S., with a portfolio of more than 5,300 products. The acquisition is expected to be completed in Lowe’s second fiscal quarter, following regulatory approval.