$15 Million RONA Store Opens in Grimsby: Financial News

GRIMSBY, ONTARIO--(MARKET WIRE)--Jul 23, 2008 -- RONA inc. (Toronto:RON.TO - News), the largest Canadian distributor and retailer of hardware, renovation and gardening products, opened its new RONA store in Grimsby today. Existing Beamsville RONA Cashway operations are being transferred to the new RONA store located at 359 South Service Road. This new outlet represents a $15 million investment and created 50 new local jobs in addition to six existing positions from Cashway. The RONA Grimsby store offers the latest concept in RONA proximity stores specializing in home construction and renovation.

The 52,000-square-foot RONA Grimsby store features a 57,000-square-foot outdoor drive-through lumberyard as well as 8,000 square feet of closed storage. The store also boasts an impressive 13,000-square-foot garden centre and offers more than 22,000 products dedicated to both the professional contractor and the 'do-it-yourself' renovator.

"We are committed to generating value in the markets in which we operate," says Robert Dutton, President and CEO of RONA. "The new Grimsby location will provide customers in the area with the products and services they need to complete their home renovation projects."

"We are excited to be expanding the RONA experience in Grimsby," says Claude Bernier, Executive Vice President, Proximity and Specialized Stores for RONA. "Everything local customers have come to expect, whether it be a wide variety of products, outstanding service or 'how to' advice, can now be found in a larger format right in Grimsby's own backyard."

The RONA store combines the best of building materials with finishing and specialized products, available through boutiques such as paint, lighting, storage, kitchen and bathroom, or doors and windows. Services include kitchen design, flooring, lumber cutting, delivery as well as installation and financing services and RONA's Project Guide service, a concept offering the help of knowledgeable, specially-trained staff who guide customers through the different stages of specific renovation projects, available from the store's Project Desk. The store also features a contractors and professionals desk.

"We are happy to be opening the doors to our new location and to introducing what we have to offer to our loyal customers and contractors," says Mike Bell, store manager of the Grimsby RONA. "Our team of employees, 50 new and six from the previous RONA Cashway store, is friendly, hardworking and will continue to provide Grimsby with the outstanding and knowledgeable service for which RONA has become known. At RONA we provide a more complete shopping experience through our large selection of products, one-on-one service, and our "how- to" information - which makes any home improvement project easier."

Mr. Bell was joined at today's grand opening by the Mayor of Grimsby, Bob Bentley, MP Dean Allison (Niagara West-Glanbrook), Mike Luppino, assistant to MPP Tim Hudak (Niagara West-Glanbrook), President of the Chamber of Commerce, Cheryl Mifflin, members of the RONA senior management team, new store employees and many customers. Shannon Condie, Olympic taekwondo athlete and member of RONA's "Growing with our Athletes" program and Jim Caruk, master contractor, television personality and star of HGTV's "Real Renos", were also on hand for the celebration.

The 100 athletes supported by RONA's "Growing with our Athletes" program were selected by the Canadian Olympic Committee and the Canadian Paralympic Committee in cooperation with their member sports federations. These athletes embody Canada's hopes for the 2008 Olympic and Paralympic Games in Beijing or the 2010 Winter Games in Vancouver. RONA is a national partner of the 2010 Olympic and Paralympic Winter Games in Vancouver and a national partner of the Canadian Olympic and Paralympic teams until 2012.

During the opening ceremony, the RONA Foundation presented a $2,500 donation to Family and Children's Services of Niagara's (FACS) post secondary education bursary program for youth. The program gives deserving youth access to funds to help further their development. High risk youth often lack the proper support from their birth families and FACS and foster parents are not provided with funds to ensure those in their care have access to a post secondary education. This gesture marks the arrival of the new store in the Grimsby area and the RONA Foundation's efforts to help build better communities.

RONA Foundation's mission is to give assistance to young people between the ages of 12 to 30 by working to lower school dropout and illiteracy rates, and by helping to provide them with the training they need to take up a trade or other occupation.

About RONA

RONA Inc. is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA operates a network of over 680 corporate, franchise and affiliate stores of various sizes and formats. With over 27,000 employees working under its family of banners in every region of Canada and more than 15 million square feet of retail space, the RONA store network generates over $6.3 billion in annual retail sales. For more, please visit rona.ca.

Digital high resolution photos of the opening ceremonies are available on request.