Boucherville, Quebec, November 4, 2010 – RONA inc. (TSX: RON), the largest Canadian distributor and retailer of hardware, renovation and gardening products, today announced it has closed at the end of the day yesterday, the acquisition of TruServ Canada Inc., a dealer-owned distributor headquartered in Winnipeg, Manitoba. TruServ Canada is a fully owned subsidiary of RONA since October 3, 2010.
TruServ Canada operates two warehousing and distribution centers, one of 400,000 square feet in Winnipeg, Manitoba and one of 250,000 square feet in Kitchener, Ontario where it supplies over 40,000 products (SKUs). It generates distribution sales of over $100 million and serves more than 650 independent dealers across Canada, including 250 stores under the True Value, V&S, Country Depot and other specialized banners as well as 400 non-bannered stores.
RONA will now offer independent dealers in Canada three different solutions: the RONA bannered dealer store, the TruServ Canada specialized banners and distribution services for dealers without banners. This new and unique approach will enable RONA to leverage each of TruServ Canada’s and RONA’s highly complementary distribution infrastructure/product selection and provide independent dealers with all the tools they need to better compete against other dealers in their regions as well as from the emergence of large international retailers in Canada.
This Press Release includes “forward-looking statements” that involve risks and uncertainties. All statements other than statements of historical facts included in this Press Release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Company may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. The forward-looking statements in this Press Release reflect the Company’s expectations as of November 4, 2010, and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws. For more information on the risks, uncertainties and assumptions that would cause the Company’s actual results to differ from current expectations, please also refer to the Company’s Annual Report, under the “Risks and Uncertainties” section, available at www.sedar.com and at www.rona.ca.
RONA is the largest Canadian distributor and retailer of hardware, renovation and gardening products. RONA operates a network of nearly 700 corporate, franchise and affiliate stores of various sizes and formats. With close to 30,000 employees working under its family of banners in every region of Canada and more than 16 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales.
ABOUT TRUSERV CANADA
TruServ Canada is a 100% dealer-owned company, committed to over 650 independent dealers across Canada. With some of Canada’s most efficient warehousing, product buying and distribution systems TruServ Canada promotes the growth of each of its banners: True Value, V&S and Country Depot stores. Visit TruServ Canada at www.truserv.ca.