Home improvement retailer Lowe's Companies completed its acquisition of most assets of Orchard Supply Hardware, including 72 stores, for $205 million in cash plus the assumption of payables. Lowe's previously announced the acquisition.
Lowe's said Orchard will operate as a separate, standalone business, retaining its brand and its San Jose headquarters.
The acquisition expands Lowe's presence in California through the addition of Orchard's smaller-format neighborhood stores, seen by Lowe's as a natural complement to Lowe's strengths in big-box retail.
to Daily News