{"id":12837,"date":"2023-02-08T17:07:45","date_gmt":"2023-02-09T01:07:45","guid":{"rendered":"https:\/\/essential.construction\/news\/lowes-canada-to-now-operate-as-rona-inc\/"},"modified":"2023-02-08T17:07:45","modified_gmt":"2023-02-09T01:07:45","slug":"lowes-canada-to-now-operate-as-rona-inc","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/lowes-canada-to-now-operate-as-rona-inc\/","title":{"rendered":"Lowe\u2019s Canada to now operate as RONA Inc."},"content":{"rendered":"

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Canadian home improvement retailer RONA Inc. has re-established itself as an independent company following its acquisition by New York-based private equity firm Sycamore Partners from Lowe\u2019s Companies Inc.<\/p>\n

The company\u2019s head office will remain in Boucherville, Que., on the South Shore of Montr\u00e9al, Rona officials said in a Feb 3 news release.<\/p>\n

The company will continue to operate and service a network of approximately 450 corporate and affiliated dealer stores across Canada under its RONA, Lowe\u2019s, R\u00e9no-D\u00e9p\u00f4t, and Dick\u2019s Lumber banners. Over time, Lowe\u2019s stores in Canada will be converted to the RONA banner, the release said, and all RONA banners will still offer Lowe\u2019s private brands, provide compelling financing plans to customers, and honour warranties and gift cards issued by Lowe\u2019s stores in Canada.<\/p>\n

Lowe\u2019s bought RONA in 2016 in a deal valued at $3.2 billion Canadian, or about US$2.4 billion. In November 2022, Lowe\u2019s sold RONA to Sycamore Partners for US$400 million plus a performance-based deferred consideration.<\/p>\n

\u201cThe senior leadership team and I are very excited to begin this new chapter in the history of RONA, a brand that is valued by DIYers and contractors across the country,\u201d RONA president Tony Cioffi said in the Feb. 3 news release. \u201cThis milestone is positive for all our stakeholders, including our employees, affiliated dealers, vendors, customers, and the communities where we operate. We look forward to a bright future and believe this will be a unique opportunity for our 26,000 employees to promote the RONA name and increase the visibility of this strong brand among consumers.\u201d<\/p>\n

RONA was founded in Quebec in 1939.<\/p>\n<\/p><\/div>\n