While The Home Depot, QXO, and Lowe's Get All the Attention, Don't Ignore ABC Supply

Acquisitions, openings, and closures involving ABC Supply roofing stores and its L&W Supply unit, 2023-YTD 2025. Source: Webb Analytics

As you assess how the recent purchases of Beacon, Gypsum Management & Supply, and Foundation Building Materials will shake up the roofing and drywall markets, keep this in mind: ABC Supply and its L&W Supply unit are nearly as big as the other companies combined. And ABC Supply shows no signs it's resigned to giving up its lead. Just look at how much it has grown.

From January 2023 to mid-September 2025, ABC Supply and L&W Supply have acquired 80 locations in the U.S. and Canada and opened 62 greenfield locations. During that same time, there have been just two stores closed.

ABC Supply reported $20.7 billion in sales in 2024; it doesn't break out sales for its L&W or Mulehide units. In contrast, Beacon took in $9.8 billion before it was acquired by QXO, and GMS recorded $5.6 billion. Lowe's reported that FBM had sales of $6.5 billion, but it appears a big share of that has come in the past 18 months through acquisitions of REW Materials and United Door Hardware. Take away those two deals and ABC Supply is about equal.

By the end of 2024, ABC Supply had grown 78.4% since 2019, when its revenues totaled $11.6 billion.