Lowe’s is set to expand its professional contractor business with an $8.8 billion acquisition.

The deal involves Foundation Building Materials, a California-based wholesale construction materials distributor. The company specializes in interior building products, such as drywall, metal framing, ceiling systems, commercial doors and hardware, and insulation.

“With this acquisition, we are advancing our multi-year transformation of the Pro offering,” said Marvin R. Ellison, Lowe’s chairman, president and CEO, in a news release . “It allows us to serve the large Pro planned spend within a $250 billion total addressable market and aligns perfectly with our Total Home strategy.”

This new acquisition will add 370 locations across the United States and Canada to Lowe’s network, along with ac

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