CORNWALL, Ontario – The owner of Cornwall’s Rona Home Centre said things are not expected to change in the short-term at his operation, despite a massive $3.2-billion takeover involving Lowe’s.
The U.S.-led Lowe’s, which is in the midst of opening its own store on Brookdale Avenue, announced Wednesday it is purchasing Rona.
But Roy Perkins, owner of Rona on Marleau Avenue, said it’s expected to be business as usual at his operation.
“Things really won’t change in the short-term,” he said, adding he is an “affiliated” Rona dealer.
“We use the Rona name, but it’s our business,” he said.
When asked if things could change in the future, and whether he might have to change the name of his business, Perkins said such a move is unlikely.
“I don’t think they will,” he said. “When I spoke with them this morning they told me that things really won’t change.”
The boards of both companies unanimously approved the transaction, they said in a news release early Wednesday. The deal would give the U.S. chain more of a foothold in Canada’s competitive home improvement and renovation retail market, especially in Quebec, where Rona dominates the market.
The deal still faces hurdles before it is approved. Bureaucrats in Canada and the U.S., including the Competition Bureau, will have to give their assent for the deal to be finalized.
