![]() The company was thereafter sold to its retailers and restructured as a cooperative, moving its headquarters to Oak Brook, Illinois. įounder and longtime president Richard Hesse retired in 1973. By its 35th anniversary in 1959, the company had more than tripled this figure, with wholesale sales of $24.5 million from 325 stores. īy the end of the 1940s, Ace had wholesale sales of more than $7 million from the 133 stores it supplied. In 1931, the name was changed to Ace Hardware Corporation. ![]() Ace Stores was incorporated in 1928, and the company opened its first warehouse a year later. The company was named after the ace fighter pilots of World War I, who were able to overcome all odds. Gunnard Lindquist, Frank Burke, and Oscar Fisher united their Chicago, Illinois, hardware stores into "Ace Stores". In 1924, to increase buying power and profits, entrepreneurs Richard Hesse, E. Ace operates 17 distribution centers in the United States, and additional distribution facilities in China, Panama, and the United Arab Emirates. As of 2019, it has over 5,200 locations in 60 countries. It first reached $1 billion in wholesale sales in 1985 and $5 billion in 2015. After the retirement of longtime president and founder Richard Hesse in 1973, Ace was sold to its retailers, becoming a retailer-owned cooperative. It grew dramatically following World War II, more than tripling its sales between the late 1940s and 1959. įounded in 1924 as "Ace Stores", the company changed its name to "Ace Hardware Corporation" in 1931. It is the world's largest hardware retail cooperative, and the largest non-grocery American retail cooperative. ![]() Ace Hardware Corporation is an American hardware retailers' cooperative based in Oak Brook, Illinois, United States. ![]()
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