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Ace History - Overview
Ace grows through the decades: General Overview What began as a small chain of stores established by a group of Chicago-area retailers in 1924 has evolved into the nation’s leading retailer-owned cooperatives. Throughout the years, many things have changed. From a few Chicago-area hardware stores, Ace has grown to include more than 4,800 stores in 50 states and 70 countries. Yet one thing has remained unchanged — Ace's commitment to deliver quality, friendly and helpful hardware service to consumers. Take a trip through the past decades for a look at the milestones and achievements Ace has enjoyed through the years The 1920s 
1924: Uniting their Chicago-area hardware stores to increase buying power and profits, entrepreneurs Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher forge the beginning of Ace Hardware. 1928: By year-end, 11 retailers join the fledgling company, now officially named Ace Stores, Inc. 1929: Ace opens its first warehouse, a 25,000-square-foot building in Chicago, and benefits from the public’s unwavering need for tools and hardware – even in the most unsettling economic times. More on 1920-1940 The 1930s 
1931: Ace Stores, Inc., officially changes its name to Ace Hardware Corporation. Ace’s growing retailer base and buying power helps the company compete with mail order houses and chain stores. 1933: The Sherman Hotel in Chicago is home to the first formal retailer convention, and Ace’s 38 dealers from Illinois, Indiana and Wisconsin attend. 1939: With Ace Hardware rapidly growing in the Midwest, its retailers turn their energies toward improving their merchandising and developing innovative displays and promotions for their customers. More on 1920-1940 The 1940s 
1943: In response to the wartime merchandise shortage and meat rationing, Ace begins selling baby chickens, or “Ace Chicks,” advertising it as a “conscientious way to make money.” 1946: The first “Super Ace Store” is launched, showcasing wider aisles and departmentalized self-service displays 1949: By the end of the ‘40s, Ace Hardware Corporation is supplying 133 Ace stores in seven states, with wholesale sales topping $7.26 million. More on 1940-1960 The 1950s 
1952: Ace becomes a place to browse, linger and “help yourself” when the first “self-service” store is established in Merrillville, Ind. 1953: The Ace Perpetuation Fund, which ensures the corporate structure will continue after the passing of the last surviving owner, is established on June 8. 1959: Ace celebrates its 35th anniversary with wholesale sales of $24.5 million and 325 stores. More on 1940-1960 The 1960s 
1961: Ace moves its warehouse and corporate headquarters to Bedford Park, Ill. The 450,000-square-foot warehouse gives the corporation much-needed space for growth. 1963: Ace begins to expand into the Southeastern and Western states. By the end of the decade, Ace establishes warehouses in Northern California and Georgia to support this extensive retailer growth. 1968: Founder Richard Hesse encourages retailers to expand their solid hardware image by adding new lines of merchandise, such as health and beauty aids, candy and greeting cards. More on 1960-1980 The 1970s 
1973: Richard Hesse resigns as Ace president, agreeing to sell the company to its retailers for $6 million. The transition to making Ace a retailer-owned cooperative was complete in 1976. 1975: With stores in nearly all 50 states, Ace begins to expand into the international market, opening a store in Guam. 1979: Introduced to improve [P]rofits, [A]nalysis, [C]ontrol and [E]fficiency, the first PACE computer system utilizes retailer-operated minicomputers for ordering merchandise, tracking sales and analyzing purchase results. More on 1960-1980 The 1980s 
1984: Ace chemists develop and improve solvent and latex paint formulas as the company begins manufacturing Ace Paint in a state-of-the-art 250,000 square-foot facility in Matteson, Ill. 1985: A retailer ordering masking tape at a store in Michigan pushes Ace past the $1 billion wholesale sales mark. 1987: John Madden, former NFL coach and popular football sportscaster, becomes Ace’s spokesperson, providing his image and voice to television, print and radio advertising. More on 1980-2000 The 1990s 
1993: Ace opens its first retail support “super center” in Princeton, Ill. Spanning 1.1 million square feet, it remains the largest of its kind in the hardware industry. 1994: The “New Retail Age of Ace” is launched to battle the “big box” chain hardware stores and help ensure the company’s growth for years to come. 1996: President and CEO Roger E. Peterson retires, leaving a strong legacy of commitment to distribution excellence. David F. Hodnik takes over as President & CEO, a position he continues to hold today. More on 1980-2000 The 2000s 
2000: Ace launches its Vision 21 strategy to boost Ace retailers’ sales and profits, build the Ace brand and provide better service to customers. 2002: Ace signs national home improvement expert Lou Manfredini to serve as Ace’s “Helpful Hardware Man” and media spokesperson. 2003: For the first time in the company’s 80-year history, Ace surpasses $3.1 billion in hardline sales and $100 million in net profits. 2004: Ace's premier position in the industry is acknowledged by independent studies analyzing hardware stores in the market and ranking Ace number one according to all metrics. Ace also launches its exclusive Sensations TM paint with Scotchgard protector -- the first washable and scrubbable flat paint on the market. 2005: Ray Griffith is named President and CEO and encourages the Ace team for accelerated change, enhancements to the brand and to embrace retail. 2006: Ace puts the brand in lights by going on NBC's hit television show "The Apprentice." Ace uses its time on the show to give back to communities around the country. Wholesale sales reach 10-year highs, and the bottom line exceeds $100 million for the fourth straight year. More on 2000 and beyond
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