Ace Hardware Acquires The Grommet to Gain ‘Competitive Gold’ in Retail

October 4, 2017

Ace Hardware, the 93-year-old national hardware retailer, has acquired a majority stake in Somerville ecommece startup The Grommet.

The deal, which was announced Tuesday, marks the Oak Brook, Illinois-based company’s first startup acquisition. Ace gained majority ownership by purchasing shares of The Grommet from its previous investor, Japanese ecommerce giant Rakuten.

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