Rona of­fered to buy Lowe’s Canada, says ex-CEO

The Peterborough Examiner - - Business | Classified -

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.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.