Ace Hardware history

The partners adopted the Ace name in 1927, and incorporated the following year.

Ace Stores was incorporated in 1928, and the company opened its first warehouse a year later.

Ace opened its first warehouse just prior to the 1929 crash and subsequent economic devastation, its founders capitalizing on a need for hardware and tools as homeowners were forced to do their own patching up and repairing.

1930: Hesse becomes president of the organization.

By 1933 Ace had built a network of 38 retailers and staged its first dealer convention in Chicago so that dealers could evaluate new merchandise and decide whether or not to buy it.

When Jeremy Melnick's grandfather opened his first Ace Hardware store along Chicago's ritzy Gold Coast in 1950, there wasn't a whole lot of competition.

By January 1951 the company's sales had reached $9 million.

The company slowly expanded over the next few decades until Westlake joined the Ace Hardware distribution network in 1959 and eventually became the largest Ace dealer in America.

In 1961 Ace purchased its first mainframe computer.

In 1963 the company began expanding into the South and the West Coast.

The organization opened its first distribution centers beyond the bounds of Chicago in 1969.

Founder and longtime president Richard Hesse retired in 1973.

1974: Krausman succeeds Hesse as president.

By 1976, when ownership of Ace had passed completely to its dealers, the organization's sales volume had reached $382 million.

The company achieved national penetration in 1978, when it signed on members in the eastern United States.

1984: Ace begins to manufacture its own line of paints.

Another way in which the company helps communities is through the Ace Hardware Foundation, which was founded in 1991.

In 1993 the retail support company surpassed $2 billion in sales, a 7.9 percent increase over the previous year.

1994: Ace launches its strategic plan for the next century.

In 1995, it established a subsidiary—National Hardlines Supply—to sell to non-traditional retail customers, increase Ace’s buying power, and continue to provide support to its dealers.

In 1997 sales of paint, cleaning supplies, and related supplies accounted for 21 percent of revenue, while sales of plumbing and heating supplies made up 15 percent of revenue.

simmons, kelly. "battling tooth and nail: faced with 'big box' competitors like home depot, hardware stores emphasize personalized service and join buying cooperatives." atlanta journal and constitution, 2 february 1998.

In April 2000, Ace placed in-store kiosks in more than 1,000 stores, allowing customers immediate access to the web site.

The company briefly flirted with converting from a retailer-owned co-op to a for-profit corporation during the most recent recession in 2007.

In 2012, Ace Hardware acquired its largest member, Westlake Ace Hardware, for $88 million.

The corporate structure, with Venhuizen at the helm since 2013, exists only to do their bidding, overseeing 14 regional distribution centers that supply each store with the right mix of $800 Weber grills and $15 hammers.

The Oak Brook, Ill. co-op expects a year-on-year revenue increase of 13% to about $4.7 billion and a profit boost of 35% when it releases its 2014 annual report in April, following eight consecutive quarters of record sales.

As of 2016, J. D. Power has ranked Ace Hardware "Highest in Customer Satisfaction with Home Improvement Retail Stores" for ten consecutive years.