July 22, 2014 12:22 PM ET

Specialty Retail

Company Overview of Ace Hardware Corporation

Company Overview

Ace Hardware Corporation operates as the wholesaler of hardware, paint, and other related products. It offers a selection of approximately 12,000 different products in hand and power tools, electrical, plumbing, cleaning, lawn and garden, paint and paint sundries, and automotive for home improvement needs. The company also provides value-added services, such as advertising, marketing, merchandising, and store location and design services to its retail members. It markets its products primarily to retailers that operate hardware stores and with whom the company has a retail membership agreement. Ace Hardware Corporation was founded in 1924 and is based in Oak Brook, Illinois.

2200 Kensington Court

Oak Brook, IL 60523

United States

Founded in 1924

Key Executives for Ace Hardware Corporation

Chief Executive Officer and President
Age: 44
Chief Financial Officer
Age: 54
President of East Tennessee and Northwest Georgia
Age: 55
Vice President
Executive Vice President of Supply Chain and Retail Support
Age: 53
Compensation as of Fiscal Year 2014.

Ace Hardware Corporation Key Developments

Ace Hardware Corporation Announces Board Changes

Ace Hardware Corporation announced changes to its board of directors. The Ace Hardware board of directors elected Mark Schulein, 44, president of Crown Ace Hardware as a member director. Schulein is a second-generation owner of Crown Ace Hardware; he has been actively involved in the business for the past 20 years. Effective March 1, 2014, non-member director John Costello resigned from the Ace Hardware board of directors due to schedule conflicts arising from his role as president of global marketing and innovation officer for Dunkin Brands Inc. The board of directors appointed Richard W. Bennet III, effective June 10, 2014, as a non-member director to serve Costello's unexpired term. Bennet, 61, is co-chief executive officer of CCA Global Partners based in St. Louis.

Ace Hardware and OPI Unveil Exclusive OPI Color Palette by Clark+Kensington

Ace Hardware and OPI have come together to bring OPI's most popular colors to life with an exclusive color palette by Clark+Kensington(R), Ace's premium paint line. The alliance between Ace Hardware and OPI is the first-ever collaboration of its kind and combines Ace's expertise in paint with OPI's expertise in color to create the OPI Color Palette by Clark+Kensington. The new color palette will launch this month in over 3,200 Ace Hardware stores nationwide and offer consumers the opportunity to bring their favorite nail lacquer colors to life within their home décor. The OPI Color Palette by Clark+Kensington will launch with three collections comprised of six iconic OPI shades each, for a total of 18 new paint colors. Each of the OPI Color Palette by Clark+Kensington collections will also offer five coordinating Clark+Kensington colors, providing additional inspiration for homeowners. The Artist - For the Original, Inspired, Spirited & Charming: Featuring OPI's Keeping Suzi at Bay, Miami Beet, Don't Touch My Tutu!, Gargantuan Green Grape, Samoan Sand and I Eat Mainely Lobster; Clark+Kensington pairings include So Sophisticated N-C17, Boutique Chic 06D-1, Let's Have a Party 32B-5, Designer White 1066 and Star Anise N-W32. The Wild Heart - For the Fresh, Daring, Dynamic & Chic: Featuring OPI's Can't Find My Czechbook, Black Onyx, My Pointe Exactly, Do You Lilac It?, Suzi Says Feng Shui, and Vant to Bite My Neck?; Clark+Kensington pairings include Lavender Bliss 41B-2, Cymbidium Orchid 23C-5, Late Night Serenade N-C21, Silent White CW-C1 and Fashion Fix 01C-6. The Romantic - For the Sophisticated, Confident, Iconic & Glam: Featuring OPI's OPI Red, Nein! Nein! Nein! OK Fine!, My Very First Knockwurst, Chick Flick Cherry, My Vampire is Buff and Over the Taupe. Clark+Kensington pairings include Garden Stone N-C10, Swaying Palm Trees 25B-7, Natural White CW-W1, Crazy in Love 06C-1 and Wisdom of the Ages 25B-5. Clark+Kensington, a premium line of paint+primer in one, is available exclusively at Ace Hardware. The Clark+Kensington paint line and OPI Color Palette will be showcased within the newly designed, boutique style Ace Paint Studio, offering consumers a world-class paint experience at their neighborhood Ace.

Ace Hardware Warehouse to Start 105 Layoffs Locally July 25

Ace Hardware Corp., which last year said it would close its Perrysburg Township retail support center warehouse in 2014, eliminating 105 jobs, plans to start permanently laying off workers July 25. In a Worker Adjustment and Retraining Notification or WARN filed Tuesday with the Ohio Department of Job and Family Services, Ace said that after the first layoffs occur between July 25 and Aug. 7, the company plans to conduct a continuous phase out of operations until the warehouse, located at 959 Fifth St. near Buck Road, is closed Oct. 9. After closing the facility, which opened in 1974, Ace said it plans to dismantle the warehouse equipment and ship it to other Ace facilities no later than Dec. 19. Approximately 51 of the affected employees are represented by Teamsters Local 20 and have "bumping rights" under a union contract. The remaining workers, including 27 drivers, have no bumping rights. The company said in July that it planned to close the 400,000-square-foot warehouse and move its operations to a new facility in Columbus where it can better serve stores in Ohio, parts of Michigan, and northern Kentucky.

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Date
Target
Merger/Acquisition
February 20, 2014
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