BOUCHERVILLE, QUEBEC--(Marketwire - Nov. 12, 2012) - RONA inc. (TSX:RON)(TSX:RON.PR.A), the largest distributor and retailer of hardware, home renovation and gardening products in Canada, categorically denies reports published in the daily newspaper La Presse on November 10, suggesting that it has received an offer from U.S.-based Lowe's Companies, Inc. RONA has not received any proposal of any kind from Lowe's and there have been no discussions between the two companies on this subject.
RONA adds that its policy is not to comment on rumours.
RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. The Corporation operates a network of over 800 corporate, franchise and affiliate retail stores of various sizes and formats under several banners, and a network of 14 hardware and construction materials distribution centres which are flexible and perfectly adapted to the diverse needs of its clientele. RONA is also a leader in the specialized plumbing and HVAC market, primarily serving commercial and professional customers with a network of close to 60 sales outlets and four distribution centres across the country.
In total, RONA supplies nearly 1,500 sales outlets, of which over 800 are under one of its banners, as well as close to 600 clients, independent dealers, in its distribution network. With close to 30,000 employees working under its family of banners in every region of Canada, the RONA store network generates consolidated sales of $4.8 billion and over $6 billion taking into account the total impact of the retail sales of franchise dealers, affiliates and other independent dealers who buy their supplies at RONA. For more information, please visit www.rona.ca.