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Ace Retail Holdings to Acquire 13-Store Illinois Chain

Ace Retail Holdings announced today it has agreed to acquire Bishop Ace Hardware, a 13-location chain in central Illinois. Joe Jeffries, president and CEO of Ace Retail Holdings, says the stores will retain their Ace branding, store management, personnel and current product mix. 

Bishop Ace Hardware owners Lucy Stafford and George Preckwinkle say they were “literally born into the hardware business” after their parents founded the business in 1960 in Springfield, Illinois, with one small, local hardware store.

“Our partnership with the Ace brand goes back to 1960. While carrying the Ace brand, the family grew Bishop Hardware from one to 13 stores,” Preckwinkle says. “We’ve always been eager to adopt new Ace programs, product lines and technologies to help our store teammates provide the best level of service to our customers and communities.”

Stafford says they are assured that because the two companies hold shared values, the acquisition will allow Bishop Hardware to continue offering a high level of customer service. 

“It’s been a privilege to serve so many Illinois communities over the past decades,” Stafford says. “We feel confident Ace Retail Holdings is the perfect fit to continue serving our communities well into the future.”

Bishop Ace Hardware has prioritized providing products, support and world-class service for its customers, Jeffries says.

“Their passion for the hardware business has created a tradition of excellence that is truly inspiring,” he says. “It is an honor to continue their legacy.”

About Lindsey Thompson

Lindsey joined the NHPA staff in 2021 as an associate editor for Hardware Retailing magazine. A native of Ohio, Lindsey earned a B.S. in journalism and minors in business and sociology from Ohio University. She loves spending time with her husband, two kids, two cats and one dog, as well as doing DIY projects around the house, going to concerts, boating and cheering on the Cleveland Indians.

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