MOORESVILLE, N.C. & BOUCHERVILLE, QUEBEC, — Lowe's Companies, Inc. (NYSE: LOW) ("Lowe's" or the "Company") today announced that it has completed its previously announced acquisition of RONA inc. ("RONA"), in a transaction valued at C$3.2 billion (US$2.4 billion).
Who bought out Rona?
Lowe's
Is Rona same as Reno-Depot?
Réno-Dépôt (known as Reno-Depot outside of Quebec) is a Canadian chain of home supply stores owned by Lowe's. The chain briefly expanded into Ontario under the name The Building Box; following Rona's acquisition of Réno-Dépôt, these stores were re-branded as Rona Home & Garden locations.
Why is Lowes called Rona?
Becoming Rona in 1960 -- the title derives from the first-name letters of founders Rolland Dansereau and Napoleon Piotte -- the company found itself under siege by a hostile bid from Lowe's in 2012 that set off a political storm in Quebec.
Does Lowes own Reno-Depot?
Founded in 1993, Reno-Depot is a banner of Lowe's Canada, one of Canada's leading home improvement company headquartered in Boucherville, Quebec.
Does Lowes own all Rona stores?
Formerly Les Marchands en Quincaillerie (1939–1960) Ro-Na (1960-1988) Rona Dismat (1988-1998)
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Number of employees approx. 51,584 (2010)
Parent Lowe's (2016-present)
Website rona.ca
When did Lowes take over Rona?
2016
Are Rona and Home Depot owned by the same company?
While the Home Depot and Lowe's stores are all company owned, Rona Home & Garden stores are a combination of corporately owned and franchised, despite the massive investment required to build such a store.