Lowe’s to Sell Canadian Business, Including RONA Stores, to Private Equity Firm

Lowe's store signage is shown, in Hialeah, Fla., June 29, 2016. The Canadian Press/AP-Alan Diaz

Lowe’s Companies, Inc. is selling its Canadian retail business to New York-based private equity firm Sycamore Partners for US$400 million plus a performance-based deferred consideration.

Lowe’s Canadian arm is based in Boucherville, Quebec, and operates or services around 450 corporate and independent affiliate dealer stores under a number of banners, including Lowe’s, RONA, Réno-Dépôt and Dick’s Lumber.