Ace Hardware is an American hardware retailer that operates Ace stores in the United States and around the world. The company is owned by SM, a South Korean conglomerate.
Ace Hardware was founded in 1924 by Richard Hesse, E.C. Simmons, and Frank Burke in Chicago, Illinois.
The company was originally named Ace Stores, and operated as a cooperative of independently owned hardware stores. In 1931, the name was changed to Ace Hardware Corporation. In 1953, the company opened its first store outside of the United States in Panama.
Ace Hardware Corporation is a privately held company. SM Investments Corporation, a conglomerate based in South Korea, acquired a majority stake in the company in 2018. Prior to this, Ace Hardware was owned by Ace International Holdings Inc., a holding company based in Oak Brook, Illinois.
Ace Hardware has over 5,000 stores in 60 countries around the world. The company operates under several banners including Ace, Ace Express, and Handyman Club of America. In addition to its retail operations, Ace Hardware also has a wholesale division that supplies products to independent hardware stores.
Yes, Ace Hardware is owned by SM
