Lowe's Acquires ATG Stores

December 29, 2011  by in UnCategorized   

By Home Furnishings Business in Acquisition on December 30, 2011

Lowe's Cos. Inc. has acquired online home improvement and furnishings retailer ATG Stores.

The deal gives Lowe's, a $48.8 billion home improvement retailer, an extended array of products including furniture. Terms of the purchase were not disclosed.

Lowe's and ATG Stores will share best practices for online marketing and merchandising.

"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 of Lowe's, Mooresville, N.C. "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 Cos. Inc. 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 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.

Since the launch in 1999 of its first Web site, LightingUniverse.com, ATG has grown to more than 500 Web sites, featuring 18 category divisions, offering 3.5 million products from more than 3,300 name-brand manufacturers.