Lowe's to sell Canadian business, including Rona stores, to private equity firm for $400 million

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Lowe\u0027s is selling the business to Sycamore Partners for US$400 million plus a performance\u002Dbased deferred consideration. Find out more.

The American home improvement retail giant’s Canadian operations, based in Boucherville, Que., include Rona, Lowe’s Canada, Réno-Dépôt, Ace and Dick’s Lumber, consist of 450 locations and represent approximately seven per cent of the company’s 2022 sales. Lowe’s chief executive Marvin Ellison

in a press release the sale is “an important step toward simplifying the Lowe’s business model.” Ellison declined to answer questions.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.

 

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Right. Amalgamate. Mismanage. Dump. American neo-colonialism.

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