Home improvement retailer Lowe's to buy Artisan Design for $1.33 billion

The deal would help expand Lowe's offering for its professional customers at a time when the company and its rival Home Depot are facing slower demand for home remodels and construction activity. Last year, Home Depot acquired building materials supplier SRS Distribution in an $18.25 billion deal to broaden its professional customer base. Dallas, Texas-based Artisan Design sells and provides installation services, including flooring, cabinets and countertops, to homebuilders and property managers.