By rdnewsNOW staff

big acquisition for Red Deer-based company

Peavey Industries acquires Ace Brand in Canada

Mar 3, 2020 | 3:51 PM

Red Deer-based farm and ranch retailer Peavey Industries LP has acquired the Ace Canada brand, consisting of 107 stores under Ace Hardware, Ace Country & Garden or Ace Building Centre banners, from Lowe’s Canada.

The sale price was not disclosed.

Peavey Industries says these stores will all continue to operate under their existing banners and that customers can expect to see minimal changes.

“Ace Canada is a natural extension to Peavey Industries for a number of reasons,” says Doug Anderson, President and CEO of Peavey Industries. “We relate strongly to their dedication to ‘local and loyal,’ we appreciate their commitment to providing value to customers and we mirror their devotion to excellence in customer service. Also, it is a great opportunity for us to serve new markets with the addition of this great brand.”

Peavey Industries LP’s corporate head office is located in Red Deer, with a regional office in London, Ontario, and operates 92 stores in five provinces under the Peavey Mart, MainStreet Hardware and TSC banners.

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