07:15 AM EDT, 04/16/2024 (MT Newswires) -- BMTC Group (GBT.TO), which manages and operates a retail network of furniture, household appliances, and electronic products in Canada, overnight Monday said that it bought the RONA distribution center at 2055, Boulevard des Entreprises in the city of Terrebonne for $96 million before taxes,

The deal, which was paid for with cash on hand, includes a lease-back agreement with RONA, BMTC said. Renovations are planned for May.

Earlier this year, BMTC concluded the sale of a distribution center in Montreal for $66.5 million, which yielded an after-tax gain of about $51 million, or $1.54 per basic share. BMTC remains a tenant and plans to use the distribution center for its operations in the metropolitan region of Montreal.