Lowe's Companies Inc. has acquired ATG Stores, an online retailer of lifestyle and home improvement products-including wood flooring by Urban Floor-based in Kirkland, Wash.
Terms of the purchase were not disclosed. ATG Stores will remain an independent, wholly owned subsidiary of Lowe's, and the two companies will maintain separate branding and independent assortment planning and merchandising. All ATG jobs will remain in Kirkland, and no jobs will be lost as a result of the acquisition.
Lowe's said the acquisition will allow both companies to share best practices for online marketing and merchandising. In an announcement for the acquisition, Lowe's said it "underscores Lowe's commitment to providing an endless aisle of products."
"The addition of ATG Stores is a strategic fit, providing more opportunities for Lowe's to be a relevant partner at every stage of the home improvement process and deliver better customer experiences from inspiration to planning to enjoyment," said Robert Niblock, Lowe's chairman, president and CEO. "ATG Stores is an extension of Lowe's commitment to providing consumers with flexibility, simplicity and value, whenever and wherever they choose to shop."
