Company Overview Visit acehardware.com website
Ace Hardware Corporation is a hardware distribution company with over 4,500 retail locations across the United States. The company was founded in 1924 by Polish immigrant John Odell together with his brothers, Martin and Louis; they began business as Ace Glove & Safety Service Inc. at their father's auto parts store. After becoming independent of their father's business, Martin and Louis began acquiring more stores under the name Ace Hardware Corporation in 1928. Henry Rossbacher served as CEO from 1965 until 1979; he led an aggressive expansion program during which the number of stores increased from 400 to 800.
Anheuser-Busch confirmed on December 13th 2011 that it had completed its acquisition of 98-year Ace. Anheuser-Busch, part of the multinational Anheuser-Busch InBev which produces beers such as Budweiser and Stella Artois, paid approximately $70 million to take over the company. Budweiser had wanted to enter into home improvement retailing around 2010 when it submitted a bid for Home Depot but was unsuccessful in doing so.
In March 2013 Ace announced that it would be launching a new private label line of hand tools under the Craftsman brand name. The Craftsman brand, which has been sold exclusively through Sears since 1927, was originally introduced by its inventor, Swedish immigrant Karl Hasselquist.