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Founded in 1924 by a small group of Chicago hardware store owners, Ace changed the retail landscape by allowing individual stores to purchase merchandise in bulk to save money and buy at the lowest possible price. This partnership enabled even the smaller stores to complete effectively at retail despite larger stores in their market. And to this very day, Ace Hardware Corporation is still owned solely and exclusively by the local Ace retail entrepreneurs. Today, over 4,600 of Aces 4,700 stores around the globe are independently owned and operated by local entrepreneurs.