Lowes has acquired Plastic Sheet and is making it the largest buyer of the company, according to the company’s website.
The deal, which was first reported by The Wall Street Journal, also includes a stake in the company.
The company said in a statement that it has also hired several employees from its San Francisco headquarters to help the company expand into more markets.
It is also making a strategic investment in new markets to better serve its customers and meet its financial goals.
Sources told Reuters that the deal was first announced in late November, but did not provide a price tag.
In a statement, Lowe’s said it will work with its partners to create a sustainable business and is in talks with Lowe’s Global headquarters in Boston to create an “inclusive environment” for its employees.
“We are committed to creating and supporting a vibrant and sustainable business that helps us build an industry-leading product portfolio for consumers, businesses, governments and nonprofits,” the statement said.
Lowes has been focused on expanding its portfolio of products since it acquired the company in 2015.
The acquisition comes as Lowe’s struggles with a weak bottom line, as it has struggled to sell its products in recent years.
Last month, Lowe sold more than half of its brands and cut more than 7,500 jobs.