Growth drove RONA takeover: Prud’homme

MONTREAL — A “growth scenario”, and not synergy, supported Lowe’s acquisition of RONA, President and CEO Sylvain Prud’homme told the Canadian Club of Montreal this week on the heels of the merger’s second anniversary. Invited to speak on the topic of leadership development during periods of corporate change, Prud’homme stressed the expansion in staff and store openings in that time as well as RONA’s 2017 comparable sales, the best in 13 years. He added that Lowe’s Canada has kept the Boucherville, Que., head office as the base of decision-making and continues to privilege Quebec and Canadian suppliers.