Acquisition closure

The Canadian home improvement group Rona has brought to a close the acquisition of Totem, the building supplies business based in Alberta. For the purchase price of CA $ 100 (€ 62 mio) Rona has acquired 16 outlets with a combined retail space of around 42 000 m² and a distribution centre in Calgary. A 17th store is currently under construction. In 2004 Totem achieved sales of approximately CA $ 260 mio (€ 161 mio) with more than 900 employees.