Rona Inc to buy its 20 franchise stores in effort to simplify

BOUCHERVILLE, Que. — Rona Inc. says it intends to buy the 20 franchise stores in its retail network — including 18 in Quebec.The company didn’t say how much it expects to pay and adds that the transaction will be subject to a review of the business at each of the franchised stores.In total, the Rona franchise stores have 2,600 employees and generate more than $500 million in annual retail sales.Rona Inc narrows loss as retail sales improve in first quarterRona Inc’s share buybacks point to dividend hikeThe Quebec-based company says buying the franchise locations will simplify its business. Rona says it will focus on sales at its independent dealers, who operate at 275 affiliated stores, and its own network of corporate stores.Rona says all 79 big-box stores across Canada will be wholly owned by the company. read more