Ace Hardware Corp. has bought a hardware distributor with business in 11 western states.
Oak Brook-based Ace Hardware said Tuesday it has acquired Jensen Distribution Services, a 131-year-old company based in Spokane, Washington. Jensen, with about $150 million in wholesale revenue, serves more than 2,000 customers.
“While Ace’s retail strategy continues to be a priority . . . Jensen Distribution Services will advance Ace’s wholesale strategy to be the best provider of hardlines products for independent lumber, paint, nursery, industrial and hardware outlets,” Ace Hardware president and CEO John Venhuizen said in a news release.
Mike Jensen, chief executive of Jensen Distribution for more than 25 years, plans to retire in 2015. His son Chris Jensen and daughter Micah Dunlap will continue run the business.
Ace and its subsidiaries operate 14 distribution centers in the U.S. There are Ace Hardware stores in all 50 states, the District of Columbia and about 60 countries.
