Co-op buys Westlake Ace Hardware

Ace Hardware Corp. acquired Lenexa, Kan.-based Westlake Ace Hardware for $88 million.

Westlake was named the HCN 2011 Retailer of the Year, and was featured in the May 2011 issue of Home Channel News. Since 2006, the company was owned by a private equity firm -- Goldner Hawn Johnson and Morrison. 

According to Ace Hardware, the agreement became official for business beginning Dec. 17. Under the deal, Ace becomes the sole owner of the 85-store chain located in 33 Midwest and Sunbelt markets.

Westlake Ace Hardware was founded in 1905 and became part of the Ace co-op in 1959.  

Comments

Hopefully in the short term,

Hopefully in the short term, Westlake will be operated as an independent profit center with absolutely no meddling from corporate "experts" who have heretofore exhibited a distinct reverse Midas Touch when it comes to retail operations & making a profit.

Again, hopefully individual Westlake stores will be sold at a profit to successful existing Ace Dealers.