Canadian Hardware Co. Nets $208M In Sale Of Specialty Unit

Law360, Los Angeles (June 20, 2013, 7:15 PM EDT) -- Rona Inc., the largest Canadian distributor of hardware, renovation and gardening products, will sell its specialty division for plumbing, heating, ventilation and air conditioning systems to a EMCO Corp. subsidiary for CA$215 million ($208 million), Rona announced Thursday.

Following a bidding process, Rona reached an agreement to sell its commercial and professional market division to EMCO-owned Talisker Plumbing Corp. The transaction is subject to regulatory approvals, Rona said in a statement.

Rona called the agreement the "right decision for employees, customers and shareholders."

Rona created the...
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