Canada
Based in Toronto, Ontario, Lowe's opened its first three stores in Canada on December 10, 2007, in Hamilton, Brampton and Brantford. On February 1, 2008, they opened three more stores in Toronto, East Gwillimbury, and a second store in Brampton as well as a new location in Maple (Vaughan). Currently, additional stores are under construction, with 19 now open in the province of Ontario. Lowe's also recently announced expansion into Western Canada, starting with three new stores in Calgary, Alberta. One of the three locations opened in late September 2010. The other two are projected to open in early 2011.
Each store represents an average investment of $20.5 million ($20.4 million USD).
On July 8, 2012, Lowe's made an unsolicited bid to RONA, a Canadian-based retailer hardware in hopes to acquire a greater Canadian market share. However, this proposal was rejected by the board of directors, stating that this transaction was not in the interest of Canadians. After this offer went public, many Canadian parties and group tried to acquire stocks to fend off Lowe's proposal. In September Lowe's decided to end its takeover attempt.
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Famous quotes containing the word canada:
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—Irving Layton (b. 1912)