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In November 2022, Lowe's agreed to sell its Canadian operations (including the Lowe's-branded stores) to the American private equity firm Sycamore Partners, which also operates, among other properties, Staples Canada. [5] Following the sale, Rona planned to convert the Lowe's-branded stores to the Rona brand. [18]
Some of Rona's locations were converted to the Lowe's banner. In November 2022, Lowe's announced that it would sell its Canadian operations to Sycamore Partners for $400 million. Following the completion of the sale in 2023, Sycamore began to phase out the Lowe's brand in Canada, replacing it with the new Rona banner Rona+.
Rona, Inc. (2003–2016) Lowe's Canada (2016–2023) ... Rona indicated its intentions to rebrand all remaining Réno-Dépôt stores to RONA+ as of October 10, 2024.
On May 11, 2015, Lowe's Canada announced that it would acquire the leases of 13 former Target Canada stores, as well as an Ontario distribution centre, for $151 million. [70] In 2012, Lowe's attempted to buy Rona, Inc., a Quebec-based hardware chain.
Four years later, Rona, Inc., signed an agreement with Ace Hardware for the master license to the Ace brand in Canada. [61] Lowe's completed its acquisition of Rona in May 2016. [62] Rona assigned the Winnipeg office as Ace Canada, formally TruServ Canada, to manage the Ace Brand. As of June 2016, there are 62 Ace-branded stores in Canada. [5]
Home Hardware, Rona, Canac, BMR Group and Réno-Dépôt are Canadian hardware retailers. Aikenhead's Hardware became the Canadian unit of The Home Depot in 1994. Canadian Tire, Central, Kent Building Supplies, Lowe's and many smaller chains also sell hardware in Canada.
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