Ace Hardware International Holdings, Ltd., a subsidiary of Ace Hardware Corp., announced it will expand into Mexico, bringing Ace Hardware’s knowledgeable, helpful service and quality brands to the growing Mexico market.
“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 Hardware International Holdings, Ltd., also announced the appointment of Macedonio Garza as the Mexico Country Manager to lead Ace International’s initiative to expand into the country of Mexico.
Garza will spearhead this development and be responsible for building the local Ace team, leading overall strategies and directing operational initiatives to expand the Ace franchise system in Mexico. He will oversee distribution, vendor partnerships and develop programs to grow the Ace brand and expansion of independently owned and operated Ace stores throughout Mexico.
“Macedonio has been a leader in the Mexican retail market for over 25 years with a successful track record for starting new enterprises and scaling retail operations. He has an expansive background in retail operations, merchandising, marketing and distribution,” said Jay Heubner, president and general manager of Ace International.
Garza joins Ace International with a wealth of experience and knowledge in the retail sector and home improvement industry in Mexico. He most recently served as CEO/managing director at Farmacias Benavides, a leading chain of pharmacies in Mexico with over 1,200 units. Prior to that role, Garza served as the vice president of merchandising for Lowes Mexico.
Ace recently reported record second quarter 2020 revenues of $2.28 billion, an increase of $591.6 million, or 35.1 percent, from the second quarter of 2019. Net income was $138.9 million for the second quarter of 2020, an increase of $85.1 million from the second quarter of 2019.
“Same-store sales growth of 35.3 percent is impressive, a 493 percent increase in our digital business is incredible, but what I’m most pleased and impressed with is the degree to which the Ace team delivered on our highest priority of protecting our people and serving our neighbors,” said John Venhuizen, president and CEO. “The second quarter of 2020 was arguably the most difficult, unusual and yet perhaps rewarding quarter in Ace’s history.”
“In order to meet this unprecedented demand, we’ve hired over 900 additional warehouse specialists compared to last year, and that pace of hiring has continued into the third quarter. We have also accelerated our plans to grow our distribution footprint in the U.S. and will add over one million square feet of warehouse space in the next 12 months.”