Ace Hardware Corp. Vector Logo Download
In 1924, Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher founded the Ace Hardware Corp. in Chicago, Illinois. It is a hardware cooperative which was intended to build business by providing a centralized purchasing organization to supply the founders’ stores and others. Back then, it was named as Ace Store, Ind. Its retail network expanded to hundreds of dealers by 1949, when annual sales reached about $10 million.
As of 2005, the $13 billion retail hardware cooperative is made up of more than 4,600 independent stores in all 50 states of the United States and in 70 different countries. Ace Hardware was named after the Ace fighter pilots of World War I, who were able to overcome all odds.