Ace employee attacked during store robbery
A suspected shoplifter is in custody after allegedly attacked an Ace Hardware employee with a box-cutter, according to an article in the Pioneer Press.
The incident occurred when two store employees confronted Randy James Clark Jr., 25, for trying to steal about $35 worth of copper pipe-fittings from the Coon Rapids, Minn., retailer. Clark then pulled out a box cutter and took a swing at one of the employees, who required stitched on his arm.
Clark reportedly fled store and was caught by Coon Rapids and Blaine police, as well as Minnesota State Patrol troopers. He was arrested July 31, on suspicion of aggravated robbery and is being held at the Anoka County Jail. Clark has not been charged.
RONA turns down $1.9 billion takeover bid by Lowe’s
Lowe’s made an offer, but RONA refused.
The two North American home improvement giants will continue to operate as competitors in Canada, where Lowe’s has been growing organically for the past several years amid rumors that just such an acquisition play was in the cards.
In the end, the Canadian retailer and distributor RONA rebuffed a $14.21 per share — $1.85 billion — acquisition offer. "RONA’s strategic focus remains to execute on its business plan with a view to capturing the significant opportunities that it sees for the business," RONA said in a statement.
According to Lowe’s, the non-binding proposal was delivered to RONA board chairman Robert Paré, on July 8. RONA’s board asked Lowe’s for additional time to consider the proposal but, then rejected it.
On Tuesday, Lowe’s made it’s proposal public, and it can be seen here.
Lowe’s, which operates 31 stores in Canada, says it hopes the RONA board will reconsider the offer.
In its pitch, Lowe’s said that “Combining RONA’s Canadian operations with Lowe’s strong global presence would provide RONA’s operations with substantial benefits by creating a strengthened Canadian home improvement retailer with world-class capabilities across channels and geographies. While the combined Canadian business would undoubtedly benefit from Lowe’s global reach and deep supplier relationships, Lowe’s believes that preserving Rona’s local market expertise and relationships is critical.”
Friedman’s to add fourth unit in Petaluma
Independent hardware chain Friedman’s Home Improvement has revealed plans to open a new location in Petaluma, a Northern California town where it first opened in 1946 before its flagship store burned to the ground in 1976. According to an article in the Santa Rosa Press Democrat, plans call for a 78,000-sq.-ft. main store in Deer Creek Village, where Friedman’s will be the anchor tenant.
The front of the store is planned to have two 35-ft.-tall "living walls" covered in live greenery that will be fed and watered automatically, changing with the seasons. Two similar 16-ft. walls will bracket the entrance to the 20,000-sq.-ft. garden center.
Lumber sheds will carry a full assortment of building materials. Plans are to open the store in the fourth quarter of 2013, pending city approval.
Home Depot tried to make a go of it in Petulama but closed its small-format Yard-birds stores in 2006. Lowe’s had planned to take the anchor tenant spot that Yardbird’s will occupy, but pulled out during a downsizing move, the newspaper reported.
Friedman’s also has outlets in Santa Rosa, Sonoma and Ukiah. The Santa Rosa store, which opened in 1971, is 100,000 sq. ft.