Lowe’s Cos. announced its acquisition of StainMaster, the carpet and flooring brand. The financial details of the deal were not disclosed. Lowe’s has exclusively sold StainMaster carpet for the last decade, and says this expands on that partnership. The acquisition includes all intellectual property and sub-brands. StainMaster will join the Lowe’s lineup of private labels, which includes Project Source and Harbor Breeze. Lowe’s stock has gained 26.2% for the year to date while the benchmark S&P 500 index is up 10.9% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
