Ace Hardware Ranks No. 5 on Franchise Times’ Top 200 List
Hardware cooperative maintains No. 5 spot for the second year in a row
Ace Hardware Corporation, the largest retailer-owned hardware cooperative in the world, is pleased to announce it was once again ranked in the top five of the 2020 Franchise Times Top 200 List.The respected annual list ranks the largest U.S. franchises by global sales.
“Ace is proud to be recognized by Franchise Times as a top franchise in 2020 and elated to have once again ranked number five,” said John Tovar, Vice President Operations and New Business for Ace Hardware Corporation. “Despite a challenging and unprecedented year, Ace is an essential business that continues to see incredible growth as a result of our independent store owners who have persevered and remained steadfast in their support of the local communities they serve.”
Ace Hardware has consistently ranked in the top 10 of the prestigious list, with four consecutive years at the number 6 spot, followed by last year’s jump into the top five. Ace Hardware is ranked among other globally renowned companies including McDonalds, 7-Eleven, KFC, and Burger King. The latest report noted that companies listed in the top 10 brands collectively added $16.2 billion in sales, growing 5.2 percent from the previous year. The top 10 also combined to add more than 10,000 new locations in 2019.
Ace Hardware is a retailer-owned cooperative where independent owners operate the majority of locations, even though it is sometimes considered a franchise system, Ace “franchisees” or retailers not only own their individual stores, but also serve as shareholders in the organization. Unlike a traditional franchise operation, Ace Hardware store owners pay no ongoing franchise or royalty fees.
The Franchise Times Top 200 is an annual ranking of the 200 largest franchise systems in the U.S. by global system-wide sales, based on the previous year’s performance.
For information about investment opportunities with Ace Hardware, visit www.myace.com.
Ace Hardware is the largest retailer-owned hardware cooperative in the world with more than 5,300 locally owned and operated hardware stores in approximately 70 countries. Headquartered in Oak Brook, Ill., Ace and its subsidiaries operate an expansive network of distribution centers in the U.S. and have distribution capabilities in Ningbo, China; Colon, Panama; and Dubai, United Arab Emirates. Since 1924, Ace has become a part of local communities around the world and known as the place with the helpful hardware folks. For more information, visit acehardware.com or newsroom.acehardware.com.