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Independent operators of RONA stores say 'No, thank you' to Lowe's takeover plan

Independent operators of RONA stores say 'No, thank you' to Lowe's takeover plan

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Published by Anonymous kBhcD3BHX
Independent operators of RONA stores say 'No, thank you' to Lowe's takeover plan.
Independent operators of RONA stores say 'No, thank you' to Lowe's takeover plan.

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Published by: Anonymous kBhcD3BHX on Aug 22, 2012
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Press releaseFor immediate distribution
Independent merchants say "No, thank you” to the president of Lowe’s
Montreal, August 22, 2012
Independent merchants of 164 RONA stores from across Canadahave sent the following letter to Robert A. Niblock, Chairman of the Board, President and Chief 
Executive Officer, Lowe’s Companies Inc., to directly inform him that they do not support theLowe’s unsolicited takeover bid.
August 21, 2012Mr. Robert A. NiblockCEO and Chair of the Board
Companies Inc.
1000 Lowe’s Boulevard
 Mooresville, North Carolina, 28117USADear Mr. Niblock:We, the undersigned, are all affiliate or franchisee merchants of RONA Inc., the Canadiancompany that was recently the target of an unsolicited acquisition proposal by your company.
We are reacting to your proposal as entrepreneurs who feel strongly about the unique RONAbusiness model and culture. We want to reinforce your view that it may not be a good idea foryou to buy RONA, after you appeared to state your doubts about the deal on Monday, while you
were announcing your financial results. We respectfully say “No, thank you” as we feel thatLowe’s business model is incompatible with the one with which we have individually chosen to
engage.Of course RONA is an attractive company to one like yours, with a firmly established network of more than 200 corporate stores belonging to the RONA group (approximately 60 of which arebig-box stores like yours). What makes RONA unique, however, is the network of over 400independent merchants: us. Each of us personally owns our hardware stores and we are veryproud of that. We have strong bonds with our customers in our respective communities in allthe regions of Canada. In many cases, we have done so for several generations. In addition,franchisees are running 20 other big-box stores. From British Columbia to Newfoundland,diversity is our hallmark, and embodies the roots of the company with which we have chosen toaffiliate.
 As independent entrepreneurs, we have made several business and financial decisions over theyears; they have been based on our affinity with the RONA brand, business model and
the people that make up the RONA culture.We have chosen to define our business ventures by following the RONA business plan
a planin which we have a significant say, because of the co-operative spirit that drives the group andits managers, people to whom we enjoy easy access, and in whom we trust.We have signed long-term agreements with RONA
based on the company’s unique business
model, which values the co-existence of big-box outlets and neighbourhood stores, with thediverse needs and values of our customers front of mind.We have chosen to belong to a structure that enables us to place our trust in hundreds of localCanadian suppliers we know by their names, that invests heavily in professional developmentand that has ethics and the local community at its core.We are entrepreneurs, motivated by a drive to make our business succeed. We are driven byour very concrete investments in RONA and our belief in its business model. Collectively wehave invested hundreds of millions of dollars in recent years alone, which serves to underscoreour commitment to our licensing agreements and our dedication to the RONA business modeland its future plans.In short:
we are RONA shareholders. We are RONA’s clients.
We are the retailers who sell
RONA’s products. We know the retail sector
; it is our trade. We know what our customers wantand believe that the RONA product offering reflects that as well as local values across thecountry. It is for all these reasons that we decided to become part of RONA - above the othercompetition
and why we cannot support your planned hostile takeover.Signatories:John Albi (Newcastle)
Richard Allard, Fernande Allard, Jean Allard (L’Île
-Perrot)Michael Allen (North Vancouver)Bruce H. Allen (North Vancouver)Jacques Anctil (Rivière-du-Loup)Raynald Archambault (Saint-Jean-sur-Richelieu)Onil Audet, Mario Audet (Québec, Saint-Marc-des-Carrières)Jean-Denis Beauchamp (Saint-Roch-de-
 Lisette Beaulieu, Serge Lemay (Montréal)André Bécaud, Gilles Lamoureux, (Montréal-Nord)Claude Bélanger (Montréal)Pierre Bellefleur (Montréal)Georges-Henri Berger (La Prairie)Jean-Claude Bernier (La Malbaie)Lorenzo Bérubé, Julien Marc-Aurèle (Baie-Comeau)Daniel Blanchette (Sainte-Camille-de-Bellechasse)
André Blain, Pauline Blain, Serge Blain (Montréal)Frédéric Boisvert (Québec)André Boulais (Marieville)Daniel Bourque (Lasalle)Fabien Bouvette, Patrice Bouvette (Saint-Cyrille-de-Wendover)Bernard Breton, Jean-Pierre Breton (Saint-Narcisse-de-Beaurivage)Jean-Pierre Breton, Marie-Pierre Breton (Saint-Augustin-de-Desmaures)Louise Breton (Waterville)Lyman Brewster (High Level)Patrice Brochu (Saint-Henri-de-Lévis, Saint-Lambert-de-Lauzon)Steven Brown (Lone Butte)Romeo Bruno (Cranbrook)Roger Card, Brenda Card (Bancroft)Jacques Caya, Louise Caya, Roger Caya (Notre-Dame-du-Bon-Conseil)Dianne Clarke Dwight (Fort St. John)André Champagne, Guy Champagne (Saint-Honoré-de-Shenley)Michel Charbonneau, Roland Charbonneau (Mirabel)Yves Chartier (Lachine)Robert James Cobbledick (Coboconk)Conde, Gauvin (Saint-Quentin)André Dagenais, Lise Dagenais (Saint-Sauveur)Benoit Daigle, Guy Daigle (Dunham)Kevin P. Davies, Kimberly E. Davies (Grand Ben)Romuald Derrible (Saint-Pierre et Saint-Pierre-et-Miquelon)Philippe Desjardins (Longueuil)Brad Dick (Portage La Prairie)Marc-André Drouin, Nathalie Lagrange (Sainte-Marie, Saint-Elzéar)Nancy Dubreuil, Stéphane Dubreuil (Lebel-sur-Quévillon)Gilles Dubois, Marc Dubois (La Doré)Edwin Dueck (Rosenort)Gaétan Dumais, René Dumais (Saint-Pascal)Leonard Earl, McLeod George, Donna Mae, Fletcher George (Langley)Louise Faubert, Marc Faubert (Châteauguay)Eric Fitzpatrick, Rhonda Fitzpatrick, Stephen Fitzpatrick (Wabush)Michel Fournier, Benoit Fournier, Denis Murray (Lacolle)Benoit Forget (Mont-Tremblant)
Camil Fortin (L’Ascension
-de-Notre-Seigneur)Mack Foster (Richmond)Bertrand Fradet (Dolbeau-Mistassini, Saint-Félicien)E.James Fulford (Owen Sound)Louis Gagné (Montréal)André Gagnon (Granby, Saint-Hyacinthe, Beloeil, Saint-Bruno)Claude Gauthier (Shawinigan, Grand-Mère, St-Tite, Nicolet, Trois-Rivières, Bécancour, Joliette)Sylvain Gauthier, Richard Gauthier, Dominique Gauhtier (Les Cèdres, Saint-Polycarpe)Mario Gélineau (Saint-Hubert)Liette Genest (Saint-Apolinaire)Daniel Giroux (Mansonville)Raymond Girardot (Roxton Falls)

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