Ace expands footprint in Puerto Rico
By the end of March, Ace Hardware Corp. will convert 13 hardware stores owned by 10 different retailers to the Ace banner.
The 13 stores will continue to be part of the local buying group Ferrmax, but will end ties with True Value, according to Ace.
“These excellent retailers are a welcome addition to the Ace family,” said Bob Moschorak, president of Ace Hardware International Holdings.
The announcement comes at a time when Ace Hardware is showing gains in international development. Ace Hardware’s sales to international customers increased 49% in the fourth quarter of 2011.
The transition to Ace will take place during the coming weeks and will be completed by late March, the Oak Brook, Ill.-based co-op said.
The stores will introduce new signage and product assortments this month. The retailers also will begin offering their customers special promotions through Ace and one of the broadest product selections in the market.
Many of the 13 stores, all part of the local buying group Ferrmax, have been passed down within families for generations and maintain deeply rooted connections to the communities they serve, according to Ace.
“We pride ourselves on providing quality products and service to our customers while also building strong relationships with our communities,” said Jorge Perez, a member of the Ferrmax group and owner of the Aguadilla store.
The converted stores are located in Aguadilla, Bayamon, Caguas (2),
Cidra (2), Gurabo, Ponce, Lajas, San Juan, Hatillo, Vega Baja and Yauco.
Ace operates about 4,600 stores around the world.