Prince George, B.C.- U.S. home improvement giant Lowe’s has  announced it  is buying RONA  for $3.2 billion  (Cdn).

Here in Prince George,  Lowe’s is still in the process of preparing its new store  that  will be located in the former Target location  at the Pine Centre mall.  Just  a few kilometers away,  there is an independently owned and operated RONA store on Cowart Road off Highway 16.

Local RONA  owner/operator Rod Bellmann  says the  news is  good for  his  company “It should make us stronger and better”  although  there are still discussions to be held  to sort out  the roles of  the Lowe’s and RONA operations in Prince George.

“I am in andependent plant, so this store will be here and will continue to serve the Prince George community, it is locally owned and operated. so we’ll still  be here, it will just be how we work with the corporate store coming.”

The RONA in Prince George  has between 25 and 50 employees depending on the season.

Bellmann says there are still many hoops to  jump through before the deal  is finalized including shareholders approval of the deal and the agreement will have to be reviewed and approved  by the Competition Bureau,

For Bellman, it means  business carries on,  “We will still be flying the RONA  banner name  and we’re just looking forward to  working with the Lowe’s group”  says Bellman “I would actually prefer to work with Lowe’s than be in competition with them, I think it’s a good thing.”

The corporate  statement issued today  says the deal is  supported by the management  teams of both and Lowe’s  has agreed to some key commitments for RONA and its stakeholders, including:

• to maintain RONA’s multiple retail store banners;
• to enhance distribution services to independent dealers;
• for RONA to continue to employ the vast majority of its current employees and maintain key executives from RONA’s strong leadership team
• to continue RONA’s local and ethical procurement strategy and potentially expand relationships both Lowe’s and RONA have developed with Canadian manufacturers and suppliers;
• to headquarter the Canadian businesses in Boucherville, Quebec;
• to continue to support Canadian communities through RONA and Lowe’s charitable and environmental initiatives.

RONA’s Chairman, Robert Chevrier adds  “We believe the time is right to take the next step in the evolution of the RONA family. The team at Lowe’s has presented us with an excellent plan that enables our company to maintain its brand power while at the same time leveraging Lowe’s global presence to build upon and expand our reach.”