Lowe’s Companies Inc. announced the acquisition of ATG Stores, a
leading online retailer of home improvement and lifestyle products
based in Kirkland, Wash. The acquisition underscores Lowe’s
commitment to providing an endless aisle of products. 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. Utilizing ATG
Stores’ broad assortment of products and its strong online
retailing operation is just another way Lowe’s will deliver
better customer experiences.
“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.â€
ATG Stores 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.
By combining the expertise and capabilities of Lowe's and ATG Stores,
each organization will experience growth through expanded assortments
and broader customer insights which ultimately lead to better customer
experiences.
"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.
With fiscal year 2010 sales of $48.8 billion, Lowe's Companies, Inc.
is a FORTUNE 50 company that serves approximately 15 million customers
a week at more than 1,725 home improvement stores in the United
States, Canada and Mexico. Founded in 1946 and based in Mooresville,
N.C., Lowe's is the second-largest home improvement retailer in the
world.
ATG was founded in 1999 with the launch of its first website,
LightingUniverse Since then, ATG has grown to more than 500 websites,
featuring 18 growing category divisions, offering 3.5 million products
from more than 3,300 name brand manufacturers.
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United States of America:Lowe's Companies buys ATG Stores
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