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After the retirement of longtime president and founder Richard Hesse in 1973, Ace was sold to its retailers, becoming a retailer-owned cooperative. It first reached $1 billion in wholesale sales in 1985 and $5 billion in 2015.
In 1924, to increase buying power and profits, entrepreneurs Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher united their Chicago, Illinois, hardware stores into "Ace Stores". The company was named after the ace fighter pilots of World War I, who were able to overcome all odds.
The Ace Hardware organization was founded in the early 1920s, when Richard Hesse, Frank Burke, Oscar Fisher, E. Gunnard Linquist, and William Stauber united to form a purchasing and advertising partnership among their Chicago-area hardware stores.
Nov 20, 2023 · By 1928, Ace was an incorporated entity. The company shifted gears, becoming a wholesaler organization, and started stocking goods in its Chicago warehouse. Under the leadership of Frank Burke and later Richard Hesse, Ace was on its way to making history.
Richard Hesse (20 February 1868 in Nordhausen – 28 December 1944 in Berlin) was a German zoologist and ecologist. Hesse took his PhD in 1892 from the University of Tübingen and was subsequently appointed lecturer, later extraordinary professor (1901) of zoology at the same university.
Richard A. Hesse is an active participant in the civil rights movement nationally and in New Hampshire. He served as a member of the New Hampshire Human Rights Commission and twice received the Bill of Rights Award by the New Hampshire Civil Liberties Union.
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Four Chicago-based retailers, Richard Hesse, E. Gunnard Lindquist, Frank Burke, and Oscar Fisher had a visionary dream. They dared to challenge the monopolistic grip of larger hardware chains and sought to provide individual hardware store owners with the buying power of a cooperative.
