Rona offered to buy Lowe’s Canada, says ex-CEO
MONTREAL — The former head of Rona says the home improvement retailer offered to acquire the Canadian operations of Lowe’s, years before it was gobbled up by the American giant. Robert Dutton made the claim in an autobiography published today. Dutton says he first offered to buy Rona’s competitor during a meeting with Lowe’s senior management in 2011, when they shared the difficulties the hardware chain was having breaking into the Canadian market.
Lowe’s tune changed at a second meeting a couple of weeks later when they indicated an interest in buying Rona’s stores.