An announcement last week from RONA inc. confirmed that its sale to Sycamore Partners has been completed. The New York-based private equity firm had announced last November the takeover of the Canadian business from Lowe’s Cos., a publicly traded company based in Mooresville, N.C. The deal returns RONA to its roots as a private company.
RONA will maintain its head office in Boucherville, Que., and will continue to operate some 450 corporate and affiliated dealer stores across Canada under its RONA, Lowe’s, Réno-Dépôt, and Dick’s Lumber banners.
Meanwhile, the 61 Lowe’s-bannered big boxes within the RONA organization will remain open, though they will eventually be converted to the RONA banner. In addition, the company says it will maintain “a strong commitment to its RONA affiliated dealer network and to its Canadian- and Quebec-based vendors, and the “Well Made Here’ initiative.”
