Hardware retailing giant RONA has bought a locally based specialized plumbing and heating supplies company.
Boucherville, Que.-based RONA said it has acquired the operating assets of Best-MAR Plumbing and Heating Supplies Inc. to strengthen its position in the institutional, commercial and industrial market.
Best-Mar, which employs 45 staff throughout the Ottawa-Gatineau region, has its head office in the east end of Ottawa, a flagship location in Cornwall and a showroom in Brockville.
The three locations will be integrated into RONA's newly acquired Noble Trade chain, the retailer said.
"We believe RONA, through its Noble Trade network, has all the qualities and resources necessary to continue to grow our business," said Best-MAR's owner and president Alvin Stein in a statement. "By joining such a strong Canadian organization, we're highly confident our employees will continue to successfully develop the company and contribute to RONA's success."
Best-MAR, which was founded in 1996, generates close to $20 million in sales and is profitable.
Best-MAR vice-president Mike Dumoulin said the company's brand would gradually be assimilated into Noble Trade and disappear, although he said there was "no rush" to do so.
"We're very happy to be moving forward, and this will help us grow in this area, all the people here are very anxious and happy," he said, although he added that it was also somewhat of a sad time for a company which had remained independent for so many years.
When asked about the decision to be acquired by RONA, Mr. Dumoulin said, "As an independent wholesaler it was becoming more difficult to compete at the national level."
All 45 of Best-MAR's staff will be retained as part of the deal.
Mr. Dumoulin could not comment on the financial details of the acquisition.
The transaction is expected to close in the first quarter of 2008.
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