Hendrick Motorsports announced that Lowe’s Companies Inc has signed a three-year extension to remain primary sponsor for Jimmie Johnson and the No. 48 team.

Lowe’s CEO Robert Niblock said:

Jimmie Johnson and Hendrick Motorsports are a key part of our marketing efforts and outreach to our more than 225,000 employees. We believe this is the best combination in racing, and we’re proud to have Jimmie carry the Lowe’s name in NASCAR.

Meanwhile, Johnson signed a five-year extension to remain as the driver of the No. 48 through 2015. Johnson was signed through the 2010 season, but with Johnson knocking on his fourth championship, getting Johnson locked up must have been a priority of Rick Hendrick.

Johnson said:

Lowe’s commitment to the 48 team and Hendrick Motorsports is tremendous and has been a source of pride for me personally. We’ve built a championship team together, and I’m proud the 48 will carry the Lowe’s colors for many more years.

Hendrick added:

Lowe’s took a chance on us back in 2001, and it’s not a stretch to say this whole thing would never have been possible without them. When you have a partner put that much faith in you, it’s incredibly rewarding to see them be successful. They’re a company with values and practices that we admire and learn from in our own business, and we feel very fortunate to continue this amazing ride together. Jimmie is charting new territory in our sport, and that’s due to a combination of natural talent and unsurpassed work ethic. How he’s committed himself is just incredible, and it shows in everything that he does — not just on the racetrack. There’s no question that he’s one of the great champions in all of sports, and he’s not done yet.