Report: Lowe's makes moves in Brazil

Citing insider sources, Bloomberg reported Friday that Lowe's is working with Goldman Sachs in its search for acquisitions in Brazil, although the company is still reportedly weighing its options.

The move would help Lowe's establish a presence in a market without clear leaders -- one that's expanding as incomes (and the number of new homeowners) grows in Brazil. As it stands, there's little competition aside from corner hardware stores.

According to the sources, Lowe's is considering buying part of BR Home Centers, a home improvement holding company, as well as Curitiba-based Balaroti Materiais de Construcao SA.

The companies involved have yet to comment, Bloomberg reported.

Lowe's will report its second quarter earnings early Wednesday morning.

Want to read more?
This content is available only to registered users. Log in to read the rest of this article or create a free account.
© 2014 Home Channel News. All Rights Reserved.