American home improvement giant Lowe’s is taking over Quebec-based Rona for $3.2 billion.
The RONA retail name will stay and the Canadian headquarters of Lowe’s will locate to Boucherville, Quebec. There are three RONA locations in Winnipeg on Panet Road, Sargent Avenue and Kenaston Boulevard.
What’s unclear is whether Lowe’s will now go ahead with a new store on Kenaston near Scurfield Boulevard.
Good news for the people who work at Rona as the Lowe’s CEO wants to keep them working, all 17,000 of them.
There is still a lot of paperwork to do, but Business expert Rick Powers thinks the only real hurdle will be getting government approval.
“They’ve got good advisors on both sides, you’d have to assume they’ve done their homework,” Powers tells 680 CJOB.
He also says Lowe’s has a much better idea of what doing retail business in Canada is all about, than Target did.
Still, some loyal Rona customers are a little worried.
Home renovator Sorin Pop bristled at the thought of the Canadian chain coming under American ownership.
“Maybe it’ll offer better options, but I prefer it to stay Canadian. I like shopping Canadian. They buy most of their products in Canadian dollars, giving us the savings, I think,” he tells 680 CJOB.
Lowe’s has almost 1,900 home improvement and hardware stores in the United States, Canada and Mexico. RONA has about 500 corporate and independent affiliate dealer stores in Canada.