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Lowe's RONA acquisition is a growth strategy move

May 25, 2016

Lowe's $2.4 billion acquisition of RONA, one of Canada's biggest home improvement retailers, is a growth strategy move, which will give Lowe's 529 store locations in the country.

The deal, which finalized last week, will drive greater revenue and profit potential, according to a press release.

"We are very pleased to welcome RONA and its talented team into the Lowe's family," said Richard D. Maltsbarger, Lowe's chief development officer and president of international. "This transaction significantly expands our presence in the Canadian market and provides attractive opportunities to drive revenue and profit growth while delivering meaningful long-term benefits to shareholders, customers, suppliers, employees and the communities we serve.  We look forward to capitalizing on the significant potential created by bringing together our two great companies."