Lowe's Buys Stainmaster Flooring Brand From Koch Industries
April 22 2021 - 10:26AM
Dow Jones News
By Colin Kellaher
Lowe's Cos. Thursday said it has acquired the Stainmaster
flooring brand from a unit of Koch Industries Inc., the sprawling
conglomerate headed by billionaire Charles Koch, for an undisclosed
amount.
The Mooresville, N.C., company, which for a decade has been the
only national home-improvement retailer to carry Stainmaster
carpet, said the deal includes all related intellectual property,
trademarks and sub-brands.
Lowe's said the acquisition of Stainmaster, which will join its
private brand portfolio, is part of the "Total Home" strategy it
unveiled late last year in a bid to provide products and services
for everything a homeowner needs to repair and improve the
home.
Lowe's acquired Stainmaster from Invista, the textiles business
Koch acquired from DuPont in 2004, in a deal worth about $4.2
billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 22, 2021 11:11 ET (15:11 GMT)
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