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☆ How Ace Hardware, America’s neighborhood hardware store for 100 years, is beating its big-box rivals
▼ + stars: | 2024-05-24 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

A majority of Ace Hardware stores are located in neighborhoods. Courtesy Ace HardwareBarker is owner and operator of five Breed & Co Ace Hardware locations in the Austin, Texas, area. We count on people coming in everyday to buy a gift item from us.”This hybrid hardware-home goods-curio model is setting Ace Hardware stores apart. “They are essentially shareholders, they own the brand and the company,” said Kim Lefko, chief marketing officer of Ace Hardware. It just launched its first Ace-branded food product, a line of BBQ sauces, and a collection of Ace Hardware vintage-inspired clothing.

Persons: New York CNN — Mahin Barker, ”, Sherwin Williams, ” Neil Saunders, Hardware’s, today’s, Michael Brown, It’s, “, Barker, ” Barker, we’ve, ” Brown, “ We’ve, Kim Lefko, Lefko, John Madden, Pat Summerall, Michael Wynn, Vera Bradley, ” Wynn, Wynn Organizations: New, New York CNN, Home Depot, Hardware, Ace Hardware, Globaldata, “, NFL, Acon Investments, Sunshine Locations: New York, West Lake Hills, Austin , Texas, Brook , Illinois, Placer, remodels, Lake Hills, Chicago, Southern Florida, Florida

Bain has been interviewing investment banks to hire financial advisers that will help the private equity firm come up with a plan to cash out on its majority stake in Varsity Brands, the sources said. Varsity Brands generates more than $400 million in 12-month earnings before interest, taxes, depreciation and amortization, the sources added, asking not to be identified because the matter is confidential. Varsity Brands and Bain declined to comment. Varsity Brands consists of two main businesses, BSN SPORTS and Varsity Spirit. Varsity kept the yearbooks business when it sold Herff Jones to private equity firm Atlas Holdings earlier this year.

Persons: Kim Kyung, Bain, Varsity's Herff Jones, Herff Jones, Catterton, Abigail Summerville, Nick Zieminski Organizations: Bain Capital, REUTERS, Varsity Brands, BSN SPORTS, Spirit, Nike, Varsity, Atlas Holdings, Bain, Charlesbank Capital Partners, Partners Group, Birkenstock, ACON Investments, Kelso, Co, Equity, Thomson Locations: Tokyo, Japan, U.S, Varsity's, New York, Augusta

New Era, which makes caps affiliated with the National Football League (NFL), Major League Baseball (MLB) and National Basketball Association (NBA), has invited investment banks and law firms to pitch this month for roles in its stock market debut, the sources said. MLB, the NFL and the NBA hold minority stakes in New Era. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) may reach or surpass $300 million in 2023, the sources added. It was launched in 1954 and customized for select teams in MLB, the NFL and the NBA. Separately, Chris Koch told Bloomberg News on Thursday that New Era had secured a $600 million refinancing loan from banks.

Persons: Kevin R, Wilson, Ehrhardt Koch, Chris Koch, Jim Grundtisch, Jim Patterson, Abigail Summerville, Echo Wang, Anirban Sen, David Gregorio Our Organizations: National Football League, Major League Baseball, National Basketball Association, ACON Investments, MLB, NFL, NBA, Arm Holdings, Ivy League, New, Bloomberg, Thomson Locations: New York, Buffalo , New York, American, New, Echo

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