Does Lowe’s own Ace Hardware? (2023)

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There are several hardware retail companies in the United States. However, only a few are widely known. Lowe’s and Ace are the most well-known hardware retailers in the United States. Both include the number of stores. For example, consider Lowe’s, which has over 2,000 locations. At the same time, Ace Hardware maintains nearly 5,000 stores. Do you think Lowe’s has its ace hardware or not? Your questions have been answered!

Does Lowe’s own Ace Hardware?

No! As of 2022, Lowe’s does not own Ace Hardware, and Ace Hardware does not own Lowe’s. Carl Buchan owns Lowe’s, while The SM Group of Companies owns Ace Hardware. On the other hand, Lowe’s and Ace Hardware sell similar products such as tools, raw materials, rental equipment, and so on. The primary distinction between Lowe’s and Ace Hardware is in their business models.

Who Is Ace Hardware’s Owner?

Ace Hardware is a retailer-owned cooperative, with many individual managers owning shares in the company obtained through the $5,000 franchising fee. Previously, founder Richard Hesse owned and operated Ace Hardware until his retirement in 1973, when it became a retailer-owned cooperative.Ace Hardware was founded by Richard Hesse, E. Gunnard Lindquist, Frank Burke, and Oscar Fischer. Furthermore, these four individuals merged their hardware stores to form Ace Stores, which later became Ace Hardware.

Who owns Lowe’s?

Lowe’s needs a central owner because it is a publicly-traded company with no majority shareholder. The Vanguard Group Inc owns Lowe’s largest share (8.5%). Marvin Ellison, the current CEO of Lowe’s, was appointed in 2018.┬áMoreover, Lowe’s is the second-largest hardware chain in the United States, trailing only Home Depot. Lucius Smith Lowe established Lowe’s in North Carolina in 1921 as North Wilkesboro Hardware. However, the company was later purchased by James Lowe, who partnered with Carl Buchan to grow it.

Is Lowe’s bigger than Ace Hardware?

Because Ace Hardware is a retail cooperative, each store is independently owned, making it easier for the company to expand. On the other hand, Lowe’s stores are typically larger than Ace Hardware stores, with the average store measuring 112,000 square feet indoors and 32,000 square feet outdoors. In comparison, the average Ace Hardware store is 30,000 square feet, indicating that while there are fewer Lowe’s stores, they are larger.

Does Ace Hardware have more stores than Lowe’s?

Yes! Lowe’s and Ace Hardware are well-known hardware retailers in the United States. However, Ace Hardware is the larger retailer because it has more retail stores than Lowe’s, with over 4,000 stores operating across America. Lowe’s has approximately 2,000 stores.

Do Lowe’s and Ace Hardware sell similar products?

Yes! Ace Hardware and Lowe’s are comparable stores because they sell similar products and serve the DIY market. Popular products sold at Ace Hardware and Lowe’s, for example, include:

  • Powerful instruments
  • Hand instruments
  • Gardening tools
  • The raw materials (lumber, paint, glass, and more)
  • Materials for cutting

What services are provided by both Lowe’s and Ace Hardware?

Lowe’s and Ace Hardware provide services in their stores, such as:

  • Tools and other equipment can be rented.
  • Employees with DIY and hardware knowledge.

What Is the Difference Between Lowe’s and Ace Hardware?

The primary distinction between Lowe’s and Ace Hardware is in their business models. Lowe’s, for example, is part of a larger retail chain. In contrast, Ace Hardware is a retail-owned cooperative that independent owners can purchase. Furthermore, while Lowe’s and Ace Hardware provide similar services and products, they differ. Lowe’s, for example, no longer provides glass-cutting services like Ace Hardware, but they both sell glass products.

Does Lowe’s provide project assistance to its customers?

Yes! Lowe’s provides its customers with DIY options. Lowe’s offers this service in a booklet or by phone. The number of customers who opt for DIY is 1-877-GO-LOWES.

Does Ace Hardware provide project assistance to its customers?

Yes! Ace Hardware in Winston-Salem, N.C., collaborated with Patch, a North Carolina-based home repair technology startup, to provide customers with virtual home maintenance assistance.

Conclusion!

Despite popular belief, Lowe’s does not own Ace Hardware and has never done so; conversely, Ace Hardware does not own Lowe’s. They are both independent but compete in the same hardware retail marketplace. Furthermore, Lowe’s is part of a hardware store chain, whereas local business owners independently own Ace Hardware. However, customers can find similar products and services at Ace Hardware and Lowe’s.

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