Ace Hardware
Ace Hardware is an American hardware retailer chain. It is headquartered in Oak Brook, Illinois, and operates more than 5,000 stores in the United States and 70 other countries.
Ace Hardware was founded in 1924 by a group of hardware store owners with the goal of pooling their resources and buying merchandise at lower prices due to the size of their combined order. The first Ace store opened in 1931 in Richmond, Indiana. By 1933, there were already 43 Ace stores in operation.
In 1976, the company was purchased by Richard Hesse and then sold to Ace International Holdings in 1979. In 1985, Ace International Holdings sold a majority stake in the company to Associated Wholesalers, Inc. (AWI). In 2012, AWI sold its controlling interest in Ace Hardware Corporation to The Pritzker Group.
The current CEO of Ace Hardware is John Venhuizen. Under his leadership, Ace Hardware has seen significant growth. In 2018, Ace Hardware had sales of $14 billion.
Ace Hardware stores are typically affiliated with one of three buying groups: True Value Company, Do it Best Corp., or Orgill Inc. These groups help independent hardware store owners purchase merchandise at lower prices due to the size of their orders.
Ace Hardware is known for its helpful and knowledgeable staff as well as its wide selection of quality merchandise. It is also known for its exclusive deals and coupons which can be found on its website or through email sign-ups.
Ace Hardware has something for everyone whether they are a do-it-yourselfer or a professional contractor. With over 60,000 items in stock, Ace Hardware has the right product for any project.
The Pritzker Group owns the Ace Hardware chain.
