Ace Hardware International Holdings, Ltd., a subsidiary of Ace Hardware Corporation, has announced its expansion into Mexico.
“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.”
Mexico is the 11th largest economy in the world based on Gross Domestic Product and has one of the highest home ownership rates, Ace Hardware said in a press release.
The franchise program in Mexico will offer a variety of store formats and will offer both Mexican and global brands for the home improvement consumer.
Ace International is also opening an office in the city of Monterrey to establish a network of local companies and vendors to ensure the success of Ace Hardware franchisees in Mexico.
The primary area of franchise development for Ace will be in Mexico City with a projected opening of the first store in mid 2021.