Mooresville-based Lowe’s Companies, Inc. said Thursday it has acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash.
The acquisition allows Lowe’s and ATG Stores to capitalize on complementary strengths and employees’ extensive expertise by sharing best practices for online marketing and merchandising, Lowe’s said in a statement.
“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 A. 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.”
ATG Stores will remain an independent, wholly-owned subsidiary of Lowe’s Companies, Inc., the company said. The two organizations 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.
"Lowe’s commitment to consumers, innovation and long-term strategy, combined with our unique online product offering, presents a long-term opportunity for ATG Stores and Lowe’s to grow in the multichannel space,” said Gary Rubens, CEO of ATG Stores.
Terms of the purchase were not disclosed.
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