Rona Inc. is entering the specialized plumbing market in Quebec with the acquisition of a distributor and retailer.
The Boucherville, Que.,-based company said Monday it is acquiring the assets of Plomberie Payette & Perreault Inc. through its Noble Trade commercial and professional market division. Terms of the purchase, set to close March 1, were not disclosed.
Payette & Perreault has an 1,800-square-metre distribution centre in Le Gardeur, Que., and two retail stores operating under the banner Les boutiques Eaudace.
The acquisition is part of Rona’s strategy to resume growth by expanding its commercial and professional operations after enduring the effects of the economic slowdown.
It also allows Noble Trade to expand beyond its Ontario base, said division vice-president Michael Storfer.
"Besides breaking into a new geographic market, the acquisition enhances our existing product and service offer in the specialized plumbing market," he said.
Payette & Perreault co-owners Claude Thibault and Alain Payette will remain with Rona and help to develop the division.
Rona said the acquisition meets its criteria of gaining a top-notch management team, adding that the business is profitable and will immediately boost earnings along with generating synergies and helping to establish a national platform.
Rona purchased Noble Trade in 2007 with 22 sales outlets and distribution facilities. The company later added Best-MAR, a plumbing specialist in the Ottawa region.
