Hardware and renovation products distributor and retailer RONA, Boucherville, Quebec, has acquired Noble Trade Inc., a plumbing and heating supply wholesaler in Ontario with annual sales of about C$150 million. The purchase price was close to 7X EBITDA, RONA executives said in a conference call.
  ;
Noble Trade was created in 1998 with the merger of Trade Plumbing Supplies and Noble Plumbing Supplies. The company has posted average annual sales increases of 27% since 1998. Most of that growth was organic, with either new stores or sales growth at existing stores, said Noble President Michael Storfer.
  ;
Storfer said Noble sold to RONA because it …
