Lowe's wins approval to buy Canadian home improvement retailer Rona

Photo By Rona

MOORESVILLE, N.C. and BOUCHERVILLE, Quebec -- U.S. home improvement retailer Lowe's Companies received approval for the purchase of the Canadian home improvement company Rona.

The approval was granted under the Investment Canada Act and clearance from the Competition Bureau.


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"We are very pleased that Canadian regulatory agencies have authorized the transaction and we look forward to the benefits it will bring to stakeholders across the country," said Lowe's Canada President Sylvain Prud'homme. "We have made significant commitments to the Canadian market overall, to Quebec and to the communities in which the company operates. We believe these commitments will serve customers, employees, dealer owners and our partners well on a long-term basis."

The transaction has previously been approved by Rona shareholders and clears the way for final closing of the sale, which is expected on May 20.

Rona operates a network of close to 500 corporate and independent affiliate dealer stores in a number of complementary formats. With its nine distribution centres, Rona serves its network of stores and several independent dealers operating under other banners, including Ace, for which Rona owns the licensing rights and is the exclusive distributor in Canada. With more than 17,000 employees in corporate stores and more than 5,000 employees in the stores of its independent affiliate dealers, the company generates annual consolidated sales of $4.2 billion.



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Michaelle Bradford | Editor

Michaelle Bradford, CCI Media, is Editor of Closets & Organized Storage magazine and Woodworking Network editor. She has more than 20 years of experience covering the woodworking and design industry, including visits to custom cabinet shops, closet firms and design studios throughout North America. As Editor of Closets & Organized Storage magazine under the Woodworking Network brand, Michaelle’s responsibilities include writing, editing, and coordinating editorial content as well as managing annual design competitions like the Top Shelf Design Awards. She is also a contributor to FDMC and other Woodworking Network online and print media owned by CCI Media.