Ace Hardware is a hardware store chain in the United States and abroad. It is a part of the Ace Hardware Corporation. The corporation is headquartered in Oak Brook, Illinois.
The company was founded in 1924 by Richard Hesse and Oscar Fisher in Chicago, Illinois. The name “Ace” was chosen because it was the top card in a deck of cards, which symbolized that the company would be the best in its industry.
In 1931, Ace Hardware became a member of the National Retail Hardware Association (NRHA), which AceHardware.com notes was “a key factor in Ace’s growth and success.”
Ace Hardware Corporation is currently owned by three different companies: Wynn’s International, Inc., ACE International Ltd., and hyphenate Holdings, Inc. According to Forbes, as of July 2017, Wynn’s International, Inc. owned 60% of Ace Hardware Corporation while ACE International Ltd. owned 40%.
What does ACE stand for in Ace Hardware?
While there are many different interpretations, the most likely explanation is that ACE stands for “Anti Corrosion Engineering.” This makes sense given that one of Ace Hardware’s main focuses is selling products that protect against corrosion.
