Retailer-owned hardware cooperative Ace Hardware Corp., Oak Brook, Illinois, has opened 110 new stores in 2021 with plans to open at least 60 more by the end of the year.
Globally, Ace has opened the doors on 900 stores in the past five years, while disbursing dividends of $293 million in 20220, which marked a 46% return for Ace shareholders.
“Our proposition for consumers is that Ace is the most helpful store on the planet; for prospective new store owners, our proposition is that Ace is the most financially and emotionally rewarding opportunity available,” said John Venhuizen, President and CEO of Ace Hardware Corporation. “An essential business, rooted in people, that exists to serve others; we are blessed with local owners who genuinely serve the communities in which they reside.”
Ace operates more than 5,500 locally owned hardware stores in all 50 states and 70 countries, with global sales topping $20 billion.
Earlier this week, Ace announced it will build a large distribution center in Visalia, California. The new retail support center will occupy more than 1-million-square feet and bring more than 400 jobs to the area.