The hardware retail industry is consolidating, and large ownership groups continue to grow. We’ve covered how they’re expanding on the acquisition front, but they’re also growing through net new builds.
A brand at the forefront of this growth is Ace Hardware. Two of large franchisees have just announced additional expansions.
Costello’s Ace Hardware
Costello’s was active on the M&A front last year as they drive towards their goal of operating 100 locations by 2030. They currently sit at 63 locations across the Northeast and mid-Atlantic.
In addition to acquiring new stores, they have plans for new locations over the next few months. They have a new flagship location in Cedar Knolls, New Jersey and a store under construction in Abington, Pennsylvania.
We’ve always grown through a mix of acquisitions and new stores. We are seeing strong opportunities to open new locations from the ground up due to market growth and the increasing availability of suitable retail sites. Our vision remains steady, to be the acquisition partner of choice for great businesses looking for a succession plan and to expand into new communities that
Mike Costello, CEO of Costello’s Ace Hardware
really need a local hardware store.
The store at 235 Ridgedale Avenue in Cedar Knolls, New Jersey will feature 23,000 square feet and Ace’s new ELEVATE3 store concept. Consistent with the new store format, it will be a Backyard and BBQ destination with brands like Weber, Traeger, Big Green Egg, Blackstone, Ooni, Recteq, and Gozney, along with a wide assortment of BBQ sauces, spices, and accessories. It’s scheduled to open in the middle of this month.
The Abington, Pennsylvania location at 1333 Easton Road in the Roslyn Village Commons shopping center, will have 12,000 square feet of space. It’s scheduled to open at the end of the month and will also follow the ELEVATE3 format.
Ace Retail Group
Ace Retail Group owns and operated 260 stores across 13 states and is actively growing. This spring they focused on increasing density in their footprint, opening four new stores. All the new locations have outdoor cooking products from Weber, Blackstone, Traeger, and Big Green Egg, in addition to consumables and accessories.
As we continue to grow, our focus stays the same — being a helpful, reliable part of each community we serve. The associates at our new stores in Papillion, Shawnee, San Leandro, and Charlotte are eager to build and enhance relationships with customers and show them how we live the Ace Helpful Promise through outstanding service, practical advice, and the leading products they need to complete projects with confidence.
Bob Massengill, Senior Vice President of Business Development for Ace Retail Group
They opened the following net new store locations.
- Westlake Ace Hardware in Papillion, Nebraska opened on March 6th with 14,000 square feet of space
- Ace Hardware of San Leandro in in San Leandro, California opened on March 13th with 15,000 square feet of space
- Westlake Ace Hardware of Charlotte, North Carolina opened on March 27th and has 9,000 square feet of space
- Westlake Ace Hardware in Shawnee, Kansas was the most recent, opening on April 10th, with 12,500 square feet of space