Lowe's to Purchase Orchard Supply Hardware Assets for $205M

Lowe's Companies, Inc. LOW, the world's second largest home improvement retailer, today announced it has entered into an asset purchase agreement with Orchard Supply Hardware OSH, under which Lowe's will acquire the majority of Orchard's assets for approximately $205 million in cash, plus the assumption of payables owed to nearly all of Orchard's supplier partners. Upon completion of the transaction, the acquisition will enable Lowe's to expand through a new store format and reach a new customer base in California with the addition of Orchard's smaller-format metro store locations. Lowe's plans to have Orchard operate as a separate, standalone business, retaining its brand under the leadership of Orchard's current management team. Based in San Jose, California and See full press release