RONA, one of Canada’s biggest home improvement retailers, has announced it will be converting 10 Lowe’s stores in July to a new banner called RONA+.
“This is an important step in our vision for the future of RONA,” said Catherine Laporte, Vice-President, Marketing at RONA, in a statement. “With these conversions, we are making a significant investment and renewing our commitment to the RONA brand. The new RONA+ banner is the first step in a wider plan aimed at redefining how Canadians shop for home improvement, creating new opportunities to improve how we serve them.
“This news is positive for all our stakeholders, including RONA’s employees, affiliated dealers, vendors, customers and the communities in which RONA’s operates. For close to 85 years now, RONA has been a household name standing for great service, exciting product and brand assortments, good value, and a strong sense of community. We want to build on that and create momentum for this beloved Canadian-operated brand. We recently redefined the mission of the RONA Foundation, which plays an essential role in the vision we have for the future of RONA, a leader that not only challenges and improves how the industry serves Canadians, but who also shows up in meaningful ways to support communities across the country.”
Last November, retail giant Lowe’s Companies, Inc., based in the United States, announced it was selling its Canadian retail business to Sycamore Partners, a private equity firm specializing in retail, consumer and distribution-related investments, for $400 million in cash, and performance-based deferred consideration. As well, all Lowe’s stores would eventually be rebranded as RONA.
RONA, which is based in Boucherville, Quebec, operates or services approximately 450 corporate and independent affiliate dealer stores in a number of complementary formats under different banners, which included, Lowe’s, RONA, Réno-Dépôt and Dick’s Lumber.
RONA recently announced it is simplifying its organizational structure to strengthen its position on the market and be more efficient and that translates into the elimination of 500 positions.
“The organization firmly believes that its transition plan aimed at positioning RONA as the leader of the Canadian home improvement industry will support its viability and benefit stakeholders in the long run,” said the retailer.
“Decisions like these are never taken lightly as they impact the organization’s employees and their families. Employees affected by this change will be supported throughout this transition. The company’s head office will remain in Boucherville, on the South Shore of Montréal.”
It also announced the appointment of Andrew Iacobucci to the role of Chief Executive Officer. Prior to joining RONA, he was Executive Vice President and Chief Commercial Officer at US Foods, a leading US food distribution company.
Garry Senecal, who occupied the role of Interim CEO, has agreed to stay with RONA until the end of the year to ensure a smooth transition.
RONA also recently announced it had opened its first urban-style store in the Greater Vancouver Area in Walnut Grove in Langley, BC.
It is partnering with T & T Hardware Group owners Al Tsuchyia and Michael Trentalance in its affiliated dealer network. For RONA, the new urban style format continues to grow for the brand with more growth planned in the future.
RONA was founded in Quebec in 1939. The company said the conversion of Lowe’s stores to RONA+ will start at the end of July and take place over several months. The first 10 Lowe’s stores to be converted are all located in Ontario:
- Lowe’s Ancaster
- Lowe’s Brantford
- Lowe’s Cambridge
- Lowe’s Hamilton
- Lowe’s Kitchener
- Lowe’s Niagara Falls
- Lowe’s Sarnia
- Lowe’s Waterloo
- Lowe’s Windsor
- Lowe’s Windsor East
The company said all converted stores will remain open during the conversions, guarantees offered by Lowe’s will be honoured, gift cards will still be accepted and private brands will remain in the stores’ offering.
