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)

Copyright (c) 2021 Dow Jones & Company, Inc.