(Spencer)– The owners of Shopper’s Supply in Spencer, Spirit Lake and Algona have purchased the Ace Hardware store in south Spencer. Details of the acquisition were released today (Thursday).
About three weeks ago, Chuck Schmidt, owner of Shopper’s Supply, contacted Mark Spiedel, owner of Ace Hardware, about his interest in buying the assets of Ace Hardware. Negotiations began and as of Wednesday morning it was a done deal.
Spiedel says customers will notice little change. He says Ace will continue to operate out of its store in south Spencer while Shopper’s Supply will continue its operations in north Spencer.
Spiedel, his wife Duann and son Jason are keeping the carpet aspect of Ace Hardware. He says they’re looking at starting a carpet and laminate business in the area, with possibly as many as six locations.
Schmidt says the acquisition of Ace Hardware will mean nine to 10 million dollars more in buying power for Shopper’s Supply.
No word as to whether or not plans for Menard’s to locate in Spencer played any factor in the Shopper’s Supply/Ace Hardware deal.
(Danielle Hitchings of sister station KDWD Hot 100 in Spencer contributed to this story).
Copyright GCI. All rights reserved.
