Home Improvement Retailer Lowe’s to Become Rona
Lowe’s stores in Canada will be gradually converted to the Rona banner this year.
At the same time, all Rona banners will still offer Lowe’s private brands, provide financing plans to customers, and honour warranties and gift cards issued by the home improvement retailer.
Late last year, Lowe’s sold its Canadian business to private equity firm Sycamore Partners. Rona has since re-established itself as an independent company.
“The senior leadership team and I are very excited to begin this new chapter in the history of Rona, a brand that is valued by DIYers and contractors across the country,” says Rona president Tony Cioffi. “This milestone is positive for all our stakeholders, including our employees, affiliated dealers, vendors, customers and the communities where we operate. We look forward to a bright future and believe this will be a unique opportunity for our 26,000 employees to promote the Rona name and increase the visibility of this strong brand among consumers.”
Based in Boucherville, Que., Rona operates approximately 450 corporate and independent affiliate dealer stores in Canada under various banners. These include Rona, Lowe’s, Réno-Dépôt and Dick’s Lumber.