Ace International Announces Expansion into Mexico
August 28, 2020 // Franchising.com // Ace Hardware International Holdings, Ltd., a subsidiary of Ace Hardware Corporation, announced today it will expand into Mexico bringing Ace Hardware’s knowledgeable, helpful service and quality brands to the growing Mexico market.
Mexico is the 11th largest economy in the world based on Gross Domestic Product and has one of the highest home ownership rates. With the growing demand for home repair, maintenance and improvement products, this is the perfect opportunity to introduce Ace Hardware, a convenient and helpful hardware store model.
“The expansion of the franchise model in Mexico gives us a platform to further deliver on Ace Hardware’s legacy of providing local investment and ownership opportunities to entrepreneurs,” said Alejandro Lorenzo, Vice President of International Business Development at Ace International. “We want to continue to develop a network of successful, locally owned and operated Ace Hardware stores that focus on serving Mexican families with locally sourced products.”
Ace Hardware franchisees benefit from a turnkey business model and a trusted brand with over 96 years of renowned service. In addition to the guidance and support provided throughout the entire process, Ace International is opening an office in the city of Monterrey and establishing a large network of local companies and vendors to ensure the success of Ace Hardware franchisees in Mexico.
The franchise program in Mexico will offer a variety of flexible store formats ranging from 300 square meters to 3,000 square meters and will offer both Mexican and global brands to meet the needs of the home improvement consumer. The primary area of franchise development for Ace will be in Mexico City with a projected opening of the first store in mid 2021.
Ace has enlisted Feher Consulting, headquartered in Mexico City, to serve as the company’s exclusive franchise representative. Multi-Unit Development Agreements as well as Area Development Agreements with an initial term of 10 years are available for qualified investors. Experience with retail or franchising and a minimum liquid investment of USD $2 million is a requirement for interested investors.
About Ace Hardware
Ace Hardware is the largest hardware franchise in the world with more than 5,300 locally owned and operated hardware stores in approximately 70 countries. Headquartered in Oak Brook, Ill., Ace and its subsidiaries operate an expansive network of distribution centers in the U.S. and have distribution capabilities in Ningbo, China; Colon, Panama; and Dubai, United Arab Emirates. Since 1924, Ace has become a part of local communities around the world and known as the place with the helpful hardware folks. For more information, visit the Ace Hardware or newsroom website.
SOURCE Ace Hardware
Comments:comments powered by Disqus
- Expansions & Growth
- Financial & Earnings Claims
- Mergers & Acquisitions
- Personnel Changes
- General Announcements
- Conferences & Events
- Product Announcements
- Media Coverage
- Strategic Alliances