According to The New York Times, the largest hardware store chain in the United States, Ace Hardware, was sold to Ace Hardware Corporation by its parent company, Ace Limited Partnership, in February 2016. The purchase price was not disclosed, but it is known that the transaction included Ace Hardware Corporation taking on $1.6 billion of debt from its parent company.
Ace Hardware Corporation is a hardware store chain that operates in over 60 countries. It was founded in 1924 by Richard Hesse and John Long in Chicago, Illinois. The company has its headquarters in Oak Brook, Illinois.
Ace Limited Partnership is a holding company that was formed in 1968 to own and operate Ace Hardware stores. It is headquartered in Oak Brook, Illinois.
The sale of Ace Hardware to Ace Hardware Corporation was completed on February 3, 2016.
