Founder of 25-Store Ace Chain Dies at Age 76

Vincent J. “Vinnie” Costello, founder of Costello’s Ace Hardware in New York, died this month at age 76.

Costello worked full time for the 25-store chain until earlier this year, and officially retired as CEO in May. He died June 4.

“He loved to work. His work was his passion and growing the business was his passion,” Costello’s son, Michael Costello, told Hardware Retailing. “After his family, it was the most important thing to him because it was something to leave for his family.”

Six of Costello’s 10 children own and are active in the business, which started as a one-store operation and has grown rapidly for the past 14 years, Michael says. Michael is now CEO. The chain is on track to open its 26th store this year and its 27th location in 2017, he says.

Costello got into the hardware business in the 1970s when a retailer who owed him money gave him a store to pay off his debt, Michael says.

“He got in by accident,” he says. “He previously had zero retail experience.”

Costello was struggling financially when his prior business failed, but he got the store and worked hard to make it prosper. He was smart, a very hard worker and excelled at helping customers solve problems, Michael says.

“He had an extremely young family, and that was really the only prospect that he had,” Michael says. “That was his only option and he made it work. And along the way, he fell in love with it.”

Costello is survived by his wife, Margaret Costello, his 10 children and 25 grandchildren. He was a veteran of the U.S. Navy. View the obituary here.