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Tag: Lowe's Companies

Lowe’s Announces Sale of Canadian Retail Business to Sycamore Partners
Business

Lowe’s Announces Sale of Canadian Retail Business to Sycamore Partners

MOORESVILLE, N.C., Nov. 3, 2022 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today announced that it 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 sale of our Canadian retail business is an important step toward simplifying the Lowe's business model. While this business represents approxima...