RONA dealers send letter to Lowe’s

The independent merchants that operate 164 RONA stores across Canada have added their voice to the opposition of a Lowe’s takeover.

The dealers have written a letter to Lowe’s CEO Robert Niblock, which was made public Wednesday. In it the dealers write:

“We want to reinforce your view that it may not be a good idea for you to buy RONA, after you appeared to state your doubts about the deal on Monday, while you were announcing your financial results. We respectfully say, ‘No, thank you,’ as we feel that Lowe’s business model is incompatible with the one with which we have individually chosen to engage.”

In addition, the independents reinforce their preference for and loyalty to RONA’s approach to retailing, stating: “We are RONA shareholders. We are RONA’s clients. We are the retailers who sell RONA’s products.”

RONA's board and the Teamsters Union in Canada have already voiced their opposition to the takeover plan.