Nov. 7, 2022
Minimal Disruption Goal For Lowe’s Canada Transition
The new ownership of Lowe’s Canada will eventually move away from the Lowe’s banner in Canada in favour of the RONA banner in a manner to ensure the least possible disruption to the business. More details on the C$3.2 billion purchase by Sycamore, a private equity firm specializing in retail, consumer, and distribution-related investments, reveal the head office will remain in Boucherville, QC, and appropriate measures are in place to ensure a seamless transition to new ownership, with minimal disruption to its 26,000 associates. It will remain business as usual, including unchanged compensation and benefits. Under the new ownership, the retailer will maintain a strong commitment to its Canadian- and Quebec-based vendors, including through its ongoing involvement in the ‘Well Made Here’ initiative, meant to encourage the purchase of domestically manufactured quality products. Lowe's Canadian retail business operates or services approximately 450 corporate and independent affiliate dealer stores in a number of complementary formats under different banners – Lowe’s, RONA, Réno-Dépôt, and Dick's Lumber.