Rona says it will become an independent company again after its acquisition by Sycamore

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Rona says to become an independent company again after its acquisition by Sycamore

Rona's network has more than 375 points of sale.

Rona announces that it is once again becoming an independent company following its acquisition by Sycamore Partners and that Lowe's stores will be converted “over time” to the Rona banner.

< p class="e-p">Last November, the Rona and Réno-Dépôt banners changed hands once again, six years after their acquisition by the American company Lowe's.

Home improvement chain Lowe's announced the sale of all of its Canadian operations to New York-based private equity firm Sycamore Partners for US$400 million in cash and deferred consideration based on future performance .

Quebec retailer Rona said Friday it will continue to operate and service a network of some 450 corporate and affiliated stores operating across the country. Canada under the Rona, Lowe's, Réno-Dépôt and Dick's Lumber banners.

All Lowe's stores in Canada remain open.

“Over time, Lowe's stores in Canada will be converted to the Rona brand, all seamlessly for the clientele of renovators and contractors.

— Excerpt from Rona's press release

All Rona banners will continue to offer Lowe's private labels and honor the warranties and gift cards issued by Lowe's stores nationwide.

The organization's head office will remain in Boucherville.

Rona President Tony Cioffi said this new milestone was positive for all of our parties. stakeholders, including our employees, our affiliate merchants, our suppliers, our customers, as well as the communities where we are present.

We see a bright future and look forward to capitalizing on this unique opportunity for all of our 26,000 employees to promote the Rona name and increase awareness of this strong brand among consumers, he said in a press release.

Rona says it maintains a strong commitment to its network of Rona affiliate dealers as well as to its Quebec and Canadian suppliers, in particular through its involvement in the “Well done here” initiative, which aims to encourage the purchase of quality products made locally.

Rona's network has more than 37 5 outlets.