Lowe’s to Sell Canadian Retail Business to Sycamore Partners

Mooresville, NC, November 4, 2022-Lowe’s Companies has entered into a definitive agreement to sell its Canadian retail business to Sycamore Partners, a private equity firm specializing in retail, consumer and distribution-related investments, for $400 million in cash and performance-based deferred consideration.

Based in Boucherville, Quebec, 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.

The transaction is expected to close in early 2023, subject to customary closing conditions and regulatory approvals.