MOORESVILLE, N.C. & BOUCHERVILLE, Que. ― Lowe’s acquisition of RONA was finalized this morning. The deal, worth $3.2 billion (US$2.3 billion), will add 496 corporate and affiliated stores to Lowe’s Canada’s existing 43 outlets, and represent more than $6 billion in retail sales. In announcing the deal, Lowe’s also reaffirmed certain key commitments, including moving the Lowe’s headquarters to RONA’s existing facilities in Boucherville, Que., maintaining RONA’s multiple retail store banners, and enhancing distribution services to dealer-owners.
Lowe’s also plans to retain most of RONA’s current employees and maintain key executives from RONA’s leadership team. Lowe’s also said it will remain committed to Canadian vendors, expanding relationships both Lowe’s and RONA have developed with Canadian manufacturers and suppliers.
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