Content about Rona Inc.

June 27, 2013

Canadian home improvement retailer Rona Inc. is closing 11 non-profitable stores as part of a broader restructuring plan.

Boucherville, Quebec - Canadian home improvement retailer Rona Inc. is closing 11 non-profitable stores as part of a broader restructuring plan. Rona will also reduce administrative, marketing, merchandising and distribution expenses and eliminate 125 administrative jobs. In February 2013, Rona cut 200 jobs.

Rona rejected an unsolicited $1.72 billion USD buyout offer from Lowe’s in August 2012.

 

June 21, 2013

Canadian home-improvement chain Rona Inc. said it has reached an agreement to sell off its plumbing, heating, ventilation and air conditioning business to Emco Corp. in a deal worth about $207 million.

Quebec, Canada -- Canadian home-improvement chain Rona Inc. said Thursday it has reached an agreement to sell off its plumbing, heating, ventilation and air conditioning business to Emco Corp. in a deal worth about $207 million.

The division sells plumbing, heating, ventilation and air conditioning systems to commercial and industrial construction customers. The move is expected to add additional financial stability to the company, which is in the midst of a three-year turnaround plan.

March 19, 2013

Canadian home-improvement chain Rona Inc. announced Tuesday it has named Robert Sawyer as president and CEO, effective next month.

Boucherville, Quebec, Canada -- Canadian home-improvement chain Rona Inc. announced Tuesday it has named Robert Sawyer as president and CEO, effective next month.

Sawyer was previously an executive at grocery chain Metro Inc.

Rona’s acting CEO Dominique Boies will remain as company CFO.

September 17, 2012

Lowe’s Cos. Inc. said it has withdrawn its bid to purchase Canadian home-improvement retailer Rona Inc.

Morrisville, N.C. -- Lowe’s Cos. Inc. said Monday it has withdrawn its bid to purchase Canadian home-improvement retailer Rona Inc.

The $1.86 billion unsolicited acquisition proposal had earlier been rejected by Quebec-based Rona, which said the offer was not the best deal for its shareholders. The proposal generated discord among Rona’s dealer companies, many of whom threatened to sever their ties with Rona should Lowe’s succeed in its acquisition attempt.

August 22, 2012

A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.

New York -- A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.

The letter, which was addressed to Lowe's CEO Robert Niblock, was signed by merchants that operate 164 affiliate or franchise Rona stores.