Ace Hardware is an American hardware retailer founded in 1924. It is a subsidiary of the French company Groupe Adeo. As of 2018, Ace Hardware operates more than 4,700 stores in the United States and 70 other countries.
Ace Hardware was founded in 1924 by Richard Hesse, E.C. Gilbertson, and Frank Burke in Chicago, Illinois.
The original name of the company was Ace Stores, and the first store was located on West Grand Avenue in Chicago. In 1931, the company changed its name to Ace Hardware Corporation.
In the 1940s, Ace Hardware began to expand beyond Chicago. The company opened its first out-of-state store in 1945 in Davenport, Iowa. By the 1950s, Ace Hardware had stores in all 50 states.
In the 1960s, Ace Hardware began to expand internationally. The first foreign store opened in 1966 in Manila, Philippines. By 1973, Ace Hardware had stores in 10 foreign countries.
Ace Hardware experienced rapid growth in the 1980s. Between 1980 and 1985, the number of stores increased from 1,600 to 3,500. In 1986, Ace Hardware Corporation became a wholly owned subsidiary of The French company Groupe Adeo.
Today, Ace Hardware has more than 4,700 stores in the United States and 70 other countries. In 2018, Ace Hardware had sales of $14 billion.
