BMTC Group has acquired a Rona distribution centre in the Montreal area for $96 million under a sale-leaseback.

Montreal East-based BMTC announced that it has completed the acquisition of the facility located in Terrebonne, Que. BMTC paid for the property in full with cash from investments. Terms of the lease back to Rona were not disclosed.

Rona had announced plans in January to close the facility in order to improve operating efficiencies. BMTC said it will consider automating the distribution centre to make it more efficient and create greater lease value.

Meanwhile, BMTC said it has renewed a lease on a Montreal distribution centre that the company uses for its regional operations. The original lease was for two years.

BMTC formerly owned the property but sold it in January 2023 for $66.5 million. The company reported an after-tax gain of $50.1 million from the deal.

BMTC is a publicly traded holding company. It manages and operates a retail network through its Le Corbusier-Concorde subsidiary and its Tanguay division,

The retail network sells furniture, household appliances and electronic products in stores located across Quebec.

Photo: Scott Builders