Peavey Industries announces termination of Ace Hardware license

Red Deer-based Peavey Industries LP will end its partnership with Ace Hardware International on December 31, 2024. Peavey has been the licensee of the Ace banner in Canada since 2020.

Peavey noted that Ace Canada has experienced significant growth since acquiring the master license from Lowe’s in 2020. Despite shared aspirations for growth, the retail landscape’s challenges, including the pandemic, supply chain disruptions, inflation, and increased operational costs, have led Peavey to reevaluate its strategy.

Peavey Industries LP will continue to support Canadian retail through its Peavey Mart and MainStreet Hardware brands. The company assured that its relationship with Ace dealers will remain unchanged until the end of the year.