Rona, Inc. (stylized as RONA) is a Canadian retailer of home improvement and construction products and services, owned by U.S.-based private equity firm Sycamore Partners. Founded in 1939, the company operates a mixture of company-owned and franchised retailers under multiple banners, including Rona, its big box formats Rona Home & Garden (Rona L’Entrepôt in Quebec), Rona+, and Réno-Dépôt, as well as smaller brands such as Rona Cashway, Moffatt & Powell and Dick's Lumber.
Lowe's acquired Rona for $3.2 billion CAD in May 2016. In November 2022, Lowe's announced it would sell its Canadian operations, including Rona, to Sycamore Partners; the deal was completed the following February. Rona announced in July 2023 that it would begin converting former Lowe's locations to the new banner Rona+.
History
In September 1939, Rona was founded as "Les Marchands en Quincaillerie" (The Merchants of Hardware), an alliance of independent Montreal-area hardware retailers who sought the buying power to bypass wholesalers and deal directly with manufacturers. On July 20, 1960, the Ro-Na name was adopted, named after Rolland Dansereau and Napoleon Piotte, two of the founders of Les Marchands en Quincaillerie. Ro-Na member stores begin adding the Ro-Na logo to identify themselves as members of the buying co-operative.
In 1982, Rona purchased the assets of Botanix. In 1984, Rona created a purchasing alliance with Ontario-based Home Hardware Stores Ltd. through Alliance Rona Home Inc. In 1988, Rona merged with Dismat, another building materials company, to create Rona Dismat Group Inc. In 1990, Rona formed an alliance with Hardware Wholesalers, Inc. of Fort Wayne, Indiana. Appointment in 1992 of Robert Dutton as President and CEO of RONA. In 1997, ITM Entreprises S.A., a France-based group, invests $30 million in the Rona Dismat Group Inc. ITM became a shareholder and created a purchasing alliance with Rona.
In 1998, Rona stopped using the Le Quincailleur and Dismat names and introduced Rona L'express, Rona L'express Matériaux and Rona Le Rénovateur Régional. Rona also changed its name from Rona Dismat Group Inc. to Rona Inc. In 1999, Rona opened a new warehouse adjacent to its headquarters, measuring 654,000 square feet (ca. 6 ha), doubling its warehousing capacity. In the year 2000, Rona acquired Ontario-based Cashway Building Centres, with 66 stores. In the same year, Rona opened its online store on the rona.ca website. In 2001, Rona acquired 51 Revy Home and Garden (based in British Columbia), Revelstoke Home Centres (located in Western Canada) and Lansing (based in Ontario) stores, thus owning many more stores in the Greater Toronto Area.
In 2002, Rona closed a public offering consisting of a total offering of $150.1 million in common shares. Rona's common shares are traded on the Toronto Stock Exchange under the symbol "RON". In 2003, Rona acquired Réno-Dépôt Inc. from British Kingfisher plc, including The Building Box stores. Rona also opened its third large distribution centre in Calgary, Alberta. In 2004, Rona acquired Totem Building Supplies Limited, an Alberta company. Rona also joined the Air Miles Award Program the same year, allowing customers to gain Air Miles points while shopping at the store. Two TV shows sponsored by RONA, Rona Dream Home and Ma Maison Rona were released in 2004.
In 2006, Rona acquired Stephens Home Centre/Castle Inc, a company based in Sydney, Nova Scotia. Rona also acquired a majority (51%) stake in Matériaux Coupal Inc as well as Curtis Lumber Building Supplies and Chester Dawe Limited, a company based in St. John's, Newfoundland and Labrador. In 2007, Rona acquired Dick's Lumber, a company based in Burnaby, British Columbia. In 2007, Rona acquired Noble Trade, a company based in Concord, Ontario. In 2009, My Rona Home first aired. In 2010, Rona acquired Pierceys, a company based in Nova Scotia, Plomberie Payette & Perreault, a company based in Boucherville, Quebec, Moffatt & Powell, a company based in London, Ontario, Don Park Canada, and TruServ.
