Oak Brook, Ill. — Today Ace Hardware has more than 4,850 hardware stores across the globe.
Oak Brook, Ill. — Ace Hardware Corporation, the largest retailer-owned hardware cooperative in the industry, is celebrating the organization’s 90th anniversary. Founded in Chicago in 1924 by five independent hardware store owners, Richard Hesse, E. Gunnard Lindquist, Frank Burke, Oscar Fischer and William Stauber, these entrepreneurs made the bold decision to unite their hardware businesses to increase their collective buying power in the industry.
Today Ace Hardware has more than 4,850 hardware stores across the globe. Powered by a world-class supply chain and a global merchandising network, Ace retailers continue to be not just the local owners of their retail stores but the only shareholders of Ace Hardware Corporation.
“It’s a privilege to lead this great company, a company that has grown quite large but to this day is still comprised primarily of local, family businesses around the globe,” says John Venhuizen, president and CEO, Ace Hardware Corporation. “I believe our five founders would be exceedingly proud to see the small business success and servant hearts of Ace beating strong after all these years.”
The health of Ace as an organization has never been stronger. Reported in February 2014, Ace’s 2013 total revenue grew 8.2% to $4.2 billion and its net income grew 28% to $104.5 million — both being records for the company.
Headquartered in Oak Brook, Ill., Ace and its subsidiaries currently operate 14 distribution centers in the U.S. and also have distribution capabilities in Shanghai, China; Panama City, Panama; and Dubai, United Arab Emirates. Its stores are located in all 50 states, the District of Columbia and approximately 60 countries. For more information, visit www.acehardware.com.
SOURCE: Ace Hardware