Lowe’s to sell Canadian business, including Rona stores, to private equity firm

Lowe’s Companies, Inc. is selling its Canadian retail business to New York-based private equity firm Sycamore Partners for $400 million US plus a performance-based deferred consideration. Lowe’s Canadian arm is based in Boucherville, Que., and operates or services around 450 corporate and independent affiliate dealer stores under a number of banners, including Lowe’s, Rona, Reno-Depot and Dick’s Lumber. Lowe’s chair,…