The industry had already experienced a substantial amount of consolidation. In 1999, Lowe’s had acquired the 38-store, warehouse-format chain Eagle Hardware in a $1.3 billion transaction. In the past few years, Home Depot had acquired the plumbing wholesale distributor Apex Supply, the specialty-lighting company Georgia Lighting, the building-repair-and-replacement-products business N-E Thing Supply Company, and the specialty- plumbing-fixtures company Yore “Other” Warehouse. Just last week, Home Depot had announced the purchase of three flooring companies that “when completed would instantly make Home Depot the largest turnkey supplier of flooring to the residential construction market.”