Lowe's to sell Canadian business, including RONA, to private equity firm

Lowe’s Canadian arm is based in Boucherville, Quebec, and operates or services around 450 corporate and independent affiliate dealer stores under a number of banners, including Lowe’s, RONA, Reno-Depot and Dick’s Lumber.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

The deal, expected to close in early 2023, will establish Lowe’s Canada and RONA as a standalone, Quebec-headquartered company. Lowe’s bought RONA Inc. in 2016 in a deal valued at $3.2 billion Canadian, or about US$2.4 billion, that at the time it said was a key step in accelerating its growth strategy.

The company’s Canadian retail business makes up around seven per cent of the company’s 2022 sales outlook.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lowe's to sell Canadian business, including RONA stores, to private equity firmLowe's Companies, Inc. is selling its Canadian retail business to New York-based private equity firm Sycamore Partners for US$400 million plus a performance-based deferred consideration.
Source: CTVNews - 🏆 1. / 99 Read more »

Lowe's to sell Canadian business, including Rona stores, to private equity firmLowe\u0027s is selling the business to Sycamore Partners for US$400 million plus a performance\u002Dbased deferred consideration. Find out more.
Source: fpinvesting - 🏆 43. / 63 Read more »

Lowe's to sell Canadian business, including RONA, to private equity firmLowe\u0027s Canadian arm operates or services around 450 corporate and independent affiliate dealer stores under a number of banners
Source: TheTorontoSun - 🏆 23. / 68 Read more »

Lowe's to sell Canadian business, including RONA stores, to private equity firm - BNN BloombergLowe's Companies, is selling its Canadian retail business to New York-based private equity firm Sycamore Partners for US$400 million plus a performance-based deferred consideration. $HD eating their lunch, time to cash out and run!
Source: BNNBloomberg - 🏆 83. / 50 Read more »