M&A Deal Summary

Sycamore Partners Acquires RONA

On February 3, 2023, private equity firm Sycamore Partners acquired retailer RONA from Lowe s

Acquisition Highlights
  • This is Sycamore Partners’ 9th transaction in the Retail sector.
  • This is Sycamore Partners’ 2nd transaction in Canada.
  • This is Sycamore Partners’ 2nd transaction in Quebec.

M&A Deal Summary
Date 2023-02-03
Target RONA
Sector Retail
Buyer(s) Sycamore Partners
Sellers(s) Lowe s
Deal Type Divestiture

Target

RONA

Boucherville, Quebec, Canada
RONA is a retailer and distributor of hardware, building materials and home renovation products. RONA was founded in 1939 and is based in Boucherville, Quebec.

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Buyer(S) 1

Buyer

Sycamore Partners

New York, New York, United States
Category Private Equity Firm
Founded 2011
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Sycamore Partners is an opportunistic and operationally focused private equity firm that targets businesses and divisions in the consumer and retail sectors. The Firm looks to partner with management teams to improve the operating profitability and strategic value of their businesses. Sycamore was formed in 2011 and is based in New York City.

DEAL STATS #
Overall 24 of 26
Sector (Retail) 9 of 9
Type (Divestiture) 8 of 8
State (Quebec) 2 of 2
Country (Canada) 2 of 2
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-03 Lowe s Canadian Retail Business

Boucherville, Quebec, Canada

Lowe's Canadian Retail Business operates or services approximately 450 corporate and independent affiliate dealer stores in a number of complementary formats under different banners, which include RONA, Lowe's Canada, Réno-Dépôt and Dick's Lumber. Lowe's Canadian Retail Business is based in Boucherville, Quebec.

Buy $400M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-08 NBG Home

Austin, Texas, United States

NBG Home is a provider of an extensive array of home décor products, including ready-made and custom framing, lighting, accent furniture, wall décor, and soft goods under a portfolio of leading brands. NBG serves a wide variety of retail partners, including mass merchants, specialty stores, discount stores, home centers, warehouse clubs, and internet retailers. NBG Home is based in Austin, Texas.

Sell -

Seller(S) 1

SELLER

Lowe s

Mooresville, North Carolina, United States
Category Company
Founded 1921
Sector Retail
Employees300,000
Revenue 86.4B USD (2024)
DESCRIPTION
Entrance to Lowe's Companies' corporate headquarters in Mooresville, North Carolina.
Entrance to Lowe's Companies' corporate headquarters in Mooresville, North Carolina.

Lowe's is a home improvement retailer with more than 1,800 locations across the US, Canada, and Mexico. Lowe's was formed in 1921 and is based in Mooresville, North Carolina.

DEAL STATS #
Overall 3 of 3
Sector (Retail) 2 of 2
Type (Divestiture) 3 of 3
State (Quebec) 2 of 2
Country (Canada) 2 of 2
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-03 Lowe s Canadian Retail Business

Boucherville, Quebec, Canada

Lowe's Canadian Retail Business operates or services approximately 450 corporate and independent affiliate dealer stores in a number of complementary formats under different banners, which include RONA, Lowe's Canada, Réno-Dépôt and Dick's Lumber. Lowe's Canadian Retail Business is based in Boucherville, Quebec.

Sell $400M
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