Thomas Black, Columnist

Brad Jacobs Needs a Win on Lowe’s and Home Depot’s Turf

December 16, 2025 at 12:00 PM UTC

Thomas Black is a Bloomberg Opinion columnist writing about the industrial and transportation sectors. He was previously a Bloomberg News reporter covering logistics, manufacturing and private aviation.

On the hunt.
Photographer: Jeenah Moon/Bloomberg

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Brad Jacobs needs to buy a company.

The entrepreneur, who amassed a fortune building companies through acquisitions, ran into a bit of trouble with his latest venture, QXO Inc., because of Home Depot Inc. and Lowe’s Cos. The DIY retail giants didn’t take kindly to QXO hunting on their turf for acquisitions. Jacobs created QXO in 2023 to consolidate distributors of construction supplies and closed his first deal in April — the $11 billion hostile purchase of Beacon Roofing Supply.