December 17, 2007 16:31 ET

RONA Acquires Centre de Renovation Andre Lessard in Quebec's Beauce region

BOUCHERVILLE, QUEBEC--(Marketwire - Dec. 17, 2007) - RONA (TSX:RON), Canada's largest distributor and retailer of hardware, home renovation and gardening products, continues to grow its presence in the specialized home renovation store market with the announcement that is has acquired Centre de Renovation Andre Lessard Inc., an independent dealer under the PRO hardware banner. Completion of the transaction took place today and the financial statements of Centre de Renovation Andre Lessard are consolidated with those of RONA, effective immediately.

The Centre de Renovation Andre Lessard is located in St-George de Beauce, Quebec and consists of one store with 18,000 square feet of retail space, 35,000 square feet of warehouse space and a 40,000-square-foot lumberyard. The company, which has been in business for 30 years, has 65 employees and is well known for the outstanding customer service it provides to consumers, the trade, contractors, institutions and businesses in the region.

Commenting on the acquisition, Claude Bernier, RONA executive vice-president for proximity and specialized stores, said: "We're very happy to announce today's transaction. Centre de Renovation Andre Lessard fits very well into our existing activities. The addition of this company to our network allows us to continue strengthening our position as the undisputed leader in Quebec's renovation sector. We're also very happy that two of the store's shareholders, Cathy Lessard and Eric Lessard, have decided to develop their business venture with RONA, and we certainly anticipate that they'll help us rapidly expand our presence in this important region."

Cathy Lessard, general manager of Centre de Renovation Andre Lessard, added: "We're thrilled to be joining forces with RONA since we share the same values. We believe RONA has all the qualities we need to keep on growing our activities. Now that we're joining up with such a strong Canadian brand, we believe our employees will remain highly motivated to keep on building the business and contributing to RONA's success."


This news release contains forward-looking statements reflecting RONA's objectives, estimates and expectations. These statements are identified by the use of verbs such as "believe," "anticipate" and "expect," as well as by the use of future or conditional tenses. By their very nature, such statements involve risks and uncertainty. Consequently, reality may differ materially from the Company's projections or expectations. For information on the nature of risk factors not specifically discussed in this news release, the reader can consult RONA's 2006 annual report under the heading "Risks and Uncertainties."


RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA operates a network of more than 670 corporate, franchise and affiliate stores of various sizes and formats. With over 26,000 employees working under its family of banners in every region of Canada and more than 14 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales.

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