Rona looks to U.S. for commercial acquisitions
Rona’s Oct. 7 announcement of its intent to purchase Don Park Ltd. Partnership, an HVAC distributor and manufacturer based in Ontario, is “another step toward achieving RONA's objective of establishing a national platform in the commercial and professional market,” according to a company statement released on Oct. 7. But this hedge against traditional DIY sales may expand a lot farther south than Quebec, where Canada’s largest retailer and wholesaler is based.
"We're hoping to have an acquisition in the United States in 2011; it all depends if we identify the right series of targets and the right markets," Michael Storfer, VP of Rona’s commercial division, told the New Brunswick newspaper.
Proximity to the company’s Canadian operations isn't as crucial as finding companies that have growth potential, the article said.