Lowe's buys online retailer ATG Stores
Mooresville, N.C.-based Lowe’s acquired ATG Stores, an online retailer of home improvement and lifestyle products based in Kirkland, Wash.
The acquisition, announced Thursday morning, "underscores Lowe’s commitment to providing an endless aisle of products," the company said. The move is part of an effort to boost the retailer's online and multichannel presence.
As Lowe's explains it, 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.
ATG Stores is named for the initials of Allied Trade Group. It will remain an independent, wholly owned subsidiary of Lowe’s Companies, 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, the company said.
“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.”
"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.