Red Deer, Alta.-based Peavey Industries LP will end its relationship with Ace Hardware International on Dec. 31 of this year. Peavey has been the licensee of the Ace banner in Canada since 2020.
In a release, Peavey said that the decision “underscores the growth trajectory that Ace Canada has experienced, evolving from Peavey Industries LP’s acquisition of the Ace Canada master licence from Lowe’s in 2020. This period has been filled with shared aspirations for growth and a steadfast commitment to supporting local Canadian-owned retail.”
“Over the past few years, the retail landscape has faced numerous challenges, including the global pandemic, supply chain disruptions, inflation-induced consumer behaviour changes, and increased operational costs, particularly in smaller, remote markets. These factors have prompted a strategic reevaluation by Peavey Industries LP leading to the decision to end our relationship with Ace Hardware International.”
“Peavey Industries LP remains dedicated to fostering a vibrant, diverse, and sustainable retail landscape in Canada through our Peavey Mart & MainStreet Hardware brands.”
Peavey said its relationship with Ace dealers in Canada will be “business as usual” until the end of the year.
