Lowe's store signage is shown, in Hialeah, Fla., Wednesday, June 29, 2016. Lowe's announced Thursday it's selling its 春色直播 retail arm to a private equity firm. THE CANADIAN PRESS/AP-Alan Diaz
Lowe's store signage is shown, in Hialeah, Fla., Wednesday, June 29, 2016. Lowe's announced Thursday it's selling its 春色直播 retail arm to a private equity firm. THE CANADIAN PRESS/AP-Alan Diaz
MOORESVILLE, N.C. - Lowe's Companies, Inc. is selling its 春色直播 retail business to New York-based private equity firm Sycamore Partners for US$400 million plus a performance-based deferred consideration.
Lowe's 春色直播 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, R茅no-D茅p么t and Dick's Lumber.
Lowe's chairman, president and CEO Marvin R. Ellison said the sale is an important step toward simplifying the Lowe's business model.
The deal, expected to close in early 2023, will establish Lowe's Canada and RONA as a standalone, Quebec-headquartered company.
Lowe's bought RONA Inc. in 2016 in a deal valued at $3.2 billion 春色直播, or about US$2.4 billion, that at the time it said was a key step in accelerating its growth strategy.
The company's 春色直播 retail business makes up around seven per cent of the company's 2022 sales outlook.
This report by 春色直播was first published Nov. 3, 2022.
