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A partnership that Canadian company RONA made with Ace Hardware in 2014 is unchanged at this time, regardless of news that big-box giant Lowe’s is buying RONA.
RONA’s TruServ division, which is a home improvement distributor and former co-op, recently rebranded as Ace Canada. RONA owns the licensing rights to the Ace brand in Canada.
Ace Hardware’s corporate office in Oak Brook, Illinois, released the following statement:
“Ace Hardware is aware of the Lowe’s and RONA acquisition news that was made public earlier this month; at this time, Ace has no comment on the matter.”
On Feb. 3, RONA entered into an agreement to sell its stores and business operations to Lowe’s in a $2.3 billion deal.
In July 2014, or less than two years prior, RONA had announced the following about the long-term licensing agreement with Ace:
“Under this agreement, RONA has specific rights and privileges with respect to Ace Hardware brands, retail operating systems and web portals. RONA and Ace Hardware International have also signed a long-term distribution agreement giving RONA access to products available through Ace Hardware’s various channels of distribution, including its China direct programs to support the growth of the Ace brand in Canada.”
RONA is headquartered in Boucherville, Quebec, and operates about 500 corporate and independent affiliate stores in multiple formats, as well as nine distribution centers. The company announced Feb. 10 that it was adding five additional stores in 2016 and early 2017.
