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as
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Lowe's to sell its Canadian retail business to Sycamore Partners
US-based home improvement retailer Lowe’s has signed a definitive agreement to sell its Canadian retail business to private equity firm Sycamore Partners.
Sycamore Partners will acquire the business for $400m in cash and a performance-based deferred consideration.
Based in Boucherville, Quebec, Lowe’s Canadian retail business operates a network of around 450 corporates and independent affiliate dealer stores.
These stores trade under different banners, including RONA, Lowe’s Canada, Réno-Dépôt and Dick’s Lumber.
https://www.retail-insight-network.com/news/lowes-canada-sycamore/
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As Target found out, Canada may seem like a copy of the U.S., but our retail market is not the same. One of the big issues is, with the stretched out supply chain but only a ninth of the population of the States, the economics are different. The new company will retain the Lowe's branding but will do things our way.
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