Ace Hardware marks 100 new stores in 2024
Oak Brook, Illinois-based Ace Hardware Corp., celebrating 100 years in 2024, achieved a milestone with its 100th new store opening for the calendar year. The co-op also opened its 5,000th domestic location. Overall, Ace plans to open more than 200 new stores by the end of the year.
“I’m so proud to announce our 100th new store opening of the year in the 100th anniversary of the company,” said Ace Hardware president and CEO, John Venhuizen. “This serendipitous symmetry is a beautiful testament to the enduring relevance in our faith that human connection and a servant heart is not the enemy of a successful business, it's the enabler."
In the first six months, Ace Hardware activated 111 new stores – a record-breaking feat for the hardware retailer. Last month, the retailer activated its 100th new store for the year in Henderson, Nev. One of these new stores, Fixit Ace Hardware in Roswell, Ga., is also recognized as Ace’s 5,000th domestic location. Globally, Ace has opened more than 900 new stores in the past five years, including 203 last year, while disbursing dividends of $357 million and providing a 35% return for Ace shareholders in 2023.
Ace’s new store growth has been fueled by existing retailers opening additional locations, competitor stores converting to Ace and new investors opening their first Ace Hardware store. Ace operates more than 5,800 locally owned hardware stores in all 50 states and 60 countries, with global sales topping $22 billion. Ace’s unique cooperative business model offers local entrepreneurs not only the ability to become owners of their local store operation, but they also become one of a limited number of shareholders of Ace Hardware Corporation, according to the company.
