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True Value
True Value traces its origins to 1948 in Chicago, when a group of independent hardware retailers formed a wholesale buying cooperative called Cotter & Company, later rebranding its retail stores under the True Value name that became one of the most recognized hardware brands in the country. Like Ace Hardware, True Value has historically operated primarily as a cooperative model serving independently owned hardware stores, letting small local retailers compete against larger national chains through shared purchasing power, marketing, and private-label products. The company faced significant financial difficulty in 2024, ultimately filing for bankruptcy before its assets were acquired by Do it Best, another hardware cooperative, in a deal that consolidated much of the remaining independent hardware cooperative sector under one ownership structure. True Value's combination of its long history as one of America's original hardware retail cooperatives and its 2024 acquisition by rival Do it Best has made it one of the most consequential recent consolidation stories in the hardware retail industry.
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Lowe's
Lowe's traces its origins to 1921 in North Wilkesboro, North Carolina, when Lucius Smith Lowe opened a small hardware store that his son-in-law, Carl Buchan, later expanded significantly following World War II, eventually growing it into a major regional hardware chain. The company grew into the second-largest home improvement retailer in the United States, historically positioning itself with a somewhat stronger emphasis on appeal to home-focused do-it-yourself customers compared to Home Depot's slightly heavier lean toward professional contractors. Lowe's has long maintained a significant sponsorship and marketing presence in NASCAR, and the company has been publicly traded since 1961, making it one of the longest continuously public companies in American retail. Lowe's combination of its century-long history rooted in a single small North Carolina hardware store and its sustained position as the country's second-largest home improvement chain has made it one of the most enduring retail brands in the industry.
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