Sycamore Partners, a private equity firm focused on retail, consumer and distribution-related investments, has bought Lowe’s Canadian retail business.

The business will now operate under the name Rona Inc. With headquarters in Boucherville, Quebec, Rona operates or services approximately 450 corporate and independent affiliate dealer stores under several names, including Rona, Lowe’s, Réno-Dépôt and Dick’s Lumber.

 We look forward to working with Rona’s 26,000 associates and over 200 dealer partners to meet the home improvement needs of Canadian families, builders, and contractors,” says Stefan Kaluzny, managing director of Sycamore Partners.