RONA INC.
TSX : RON

RONA INC.

June 21, 2010 15:22 ET

RONA Closes Acquisition of Pierceys

BOUCHERVILLE, QUEBEC--(Marketwire - June 21, 2010) - RONA inc. (TSX:RON), the largest Canadian distributor and retailer of hardware, renovation and gardening products, announced it has closed today the acquisition of the chain of Pierceys stores, as expected when the transaction was announced on June 16. Financial statements will therefore be consolidated within RONA's financial statements starting today.

Pierceys operates five hardware stores ranging in size from 17,000 to 69,000 square feet, major lumberyards and one of the biggest fleets of construction materials and hardware delivery trucks in Nova Scotia. Pierceys stores are strategically located around the Halifax region, where RONA has been operating a big-box store since April 2008. Also, Pierceys can count on more than 150 dedicated employees, who will actively contribute to RONA's development in the Atlantic Provinces.

RONA now have 31 stores in the Atlantic Provinces – 12 in Nova Scotia, 10 in Newfoundland and Labrador, and nine in New Brunswick, for a total of 575,000 square feet of retail space. Over the past five years, RONA has rapidly expanded its presence in Atlantic Canada, notably with the acquisition of Chester Dawe in 2006 and Bishop's Building Center in 2008, and by opening new corporate stores and recruiting independent dealer-owners. In the last year, RONA also completed major renovations in two of its Newfoundland and Labrador stores. These growth initiatives have increased the number of RONA stores in the Atlantic Provinces from nine at the end of 2004 to 31 in 2010.

FORWARD-LOOKING INFORMATION

This press release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Company may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. The forward-looking statements in this Management Report reflect the Company's expectations as of June 16, 2010, and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws. For more information on the risks, uncertainties and assumptions that would cause the Company's actual results to differ from current expectations, please also refer to the Company's Annual Report, under the "Risks and Uncertainties" section, available at www.sedar.com and at www.rona.ca.

ABOUT RONA

RONA is the largest Canadian distributor and retailer of hardware, renovation and gardening products. RONA operates a network of close to 700 corporate, franchise and affiliate stores of various sizes and formats. With over 30,000 employees working under its family of banners in every region of Canada and more than 16 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales. For more information, please visit www.rona.ca.

Contact Information

  • Media
    Daniel Richard
    Director, Communications and Public Affairs
    RONA inc.
    514-599-5900, ext. 5751
    daniel.richard@rona.ca
    or
    Financial community
    Stephane Milot
    Senior Director, Investor Relations
    RONA inc.
    514-599-5951
    stephane.milot@rona.ca