Rona to open five new stores as Lowe’s takeover offer navigates competition watchdog
Company will also convert two smaller stores to big box locations
BOUCHERVILLE, Que—Rona Inc. is not sitting on its hands while awaiting the green-light from the regulators and shareholders on a $3.2 billion takeover offer from Lowe’s.
The Boucherville, Que.-based company has announced plans to open five new locations in Quebec and Saskatchewan, as well as intentions to convert two of its smaller proximity stores—one is Saskatoon and one in Châteauguay, Que.—to full-fledged big box status.
“Last year, we were very active with our plans to open new stores and we are pleased to begin 2016 with all these projects under way,” Luc Rodier, executive vice-president of Retail at Rona, said. “The markets for the stores were carefully selected to increase our reach and to provide better service to surrounding-area communities.”
The additions add three stores to Rona’s Réno-Dépôt banner, bringing the total number of store locations to 22. Meanwhile, the company will two all-new Rona locations in addition to the two upgraded proximity stores. The new and upgraded stores are scheduled to open their doors between this winter and early 2017.
Meanwhile, Canada’ Competition Bureau and the company’s shareholders will begin mulling the Lowe’s takeover offer.