This month, home improvement chain Lowe’s has acquired Canadian company Rona Inc. Lowe’s purchased Rona for $2.3 billion, which the Wall Street Journal reports is double than Rona’s stock price. The deal is expected to close in the second half of 2015, adding to Lowe’s earnings.

Lowe’s said it would keep the 'vast majority' of current employees and executives and would base Lowe’s Canadian operations in Boucherville, Quebec, Rona’s home. It will continue to use Rona brands and local supply chains…Most of Lowe’s Canadian stores are in Ontario, and it has none in Quebec, where most of Rona’s stores are located. Rona sells and distributes hardware, home-renovation products and building materials. The company has a network of 236 corporate and 260 dealer-owned stores under various brands serving professional contractors and do-it-yourself consumers. Lowe’s said it expects combined Canadian operations to represent about 7% of its total annual revenue.
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