Ace Hardware Corporation has expanded its wholesale distribution network with the acquisition of Jensen Distribution Services, a distributor of hardlines goods.
Founded in 1883, and based in Spokane, WA, Jensen Distribution Services is a wholesale hardware distributor with approximately $150 million in wholesale revenue that serves more than 2,000 customers in 11 western states. Jensen Distribution Services carries more than 65,000 items, including household hardware, hand and power tools, electrical, paint and sundries, outdoor living, housewares, automotive, and lawn and garden products.
As a result of the acquisition, Ace noted that it plans to provide measurable long-term financial benefits for its shareholders, including enhanced buying power for both Ace Hardware and Jensen Distribution Services. The acquisition also creates a platform for lower cost of goods driven by scale and price synchronization, as well as access to new categories, products and suppliers, the retailer said.
After serving as Jensen Distribution Services CEO for more than 25 years, Mike Jensen plans to retire in 2015; his son and daughter Chris Jensen and Micah Dunlap will remain with the company and continue to run the business.
With both the previously acquired Emery-Waterhouse, and Jensen Distribution Services, now under the Ace Hardware wholesale division, Ace Hardware also appointed Hoyoung Pak to president of Ace Wholesale Holdings, reporting to John Surane, evp/marketing, merchandising and sales. Pak joins Ace Hardware from IRI where he served as chief operating officer.