Does Home Depot Own Lowe‘s In 2024? Surprising Facts About the Home Improvement Giants

Home Depot and Lowe’s are stalwarts of the home improvement industry. With over 4,000 stores combined, they generated over $185 billion in revenue last year. Their similar offerings have many consumers wondering—does Home Depot own Lowe’s? Or vice versa?

Home Depot and Lowe‘s Have Distinct Origins and Ownership

While they are now competitors, Home Depot and Lowe’s have distinctly different origins.

• Home Depot was founded in 1978 in Atlanta by Bernie Marcus and Arthur Blank. It opened its first store in 1979.

• Lowe’s traces its roots back to 1921 when H. Carl Buchan acquired a majority stake in the North Wilkesboro Hardware Company in North Carolina. The company was renamed Lowe’s in 1946.

Neither company has ever owned the other. They have grown to national scale independently.

Today, both Home Depot and Lowe’s are publicly traded companies with widely disbursed ownership:

Home Depot (NYSE: HD)

• The Vanguard Group – 8.8%
• BlackRock Inc. – 7.8%
• State Street Corp – 4.4%
• No majority shareholder

Lowe‘s (NYSE: LOW)

• The Vanguard Group – 8.4%
• BlackRock Inc. – 7.3%
• State Street Corp. – 4.2%
• No majority shareholder

While The Vanguard Group and BlackRock are top shareholders of both companies, neither owns a controlling or majority stake.

Similar Products and Services Drive Fierce Competition

Though not commonly owned, Home Depot and Lowe’s compete vigorously by offering overlapping products and services.

Key areas of overlap include:

• Home improvement tools, lumber, hardware
• Indoor and outdoor furniture, home décor
• Flooring, paint, lighting, storage solutions
• Appliances, plumbing, electrical supplies
• Installation services for flooring, appliances, etc.
• Equipment and tool rentals

This direct competition spans both brick-and-mortar stores and e-commerce sites.

By the numbers:

• Home Depot operates 2,316 retail stores across the U.S., Canada, and Mexico
• Lowe’s has 1,971 stores in the U.S., Canada, and Mexico
• Home Depot’s 2021 revenue totaled $151.2 billion
• Lowe’s pulled in $96.3 billion in 2021 revenue

While Home Depot maintains a lead in market share, Lowe’s remains a close second in the battle for home improvement dominance.

The Result? More Power to Consumers

This heated competition benefits consumers. With two major players vying for your business, you gain more options, lower prices, and stronger incentive for good service.

You can easily comparison shop between Home Depot and Lowe’s knowing their offerings are similar. Switching costs are low.

Beyond competitive pricing, this rivalry pushes each company to enhance its services and omnichannel capabilities. They strive to make the shopping experience as seamless as possible for customers.

So does Home Depot own Lowe’s? No. But their independence fueled an intense competition that empowers consumers in the home improvement market.

The Bottom Line

While Home Depot and Lowe’s are fierce competitors, neither owns or controls the other. They operate as distinct public companies with dispersed ownership structures.

The overlap in their products and services is what fuels direct competition. This gives consumers convenient alternatives and increased bargaining power.

So next time you shop for home improvement products or services, leverage the heated rivalry between Home Depot and Lowe’s to your benefit!