For its first 50 years in business, Ace was privately held. In 1976, Ace became a retailer-owned cooperative. Each store is independently owned and operated by local entrepreneurs. Today, Ace is the largest retailer-owned cooperative in the hardware industry in terms of wholesale and retail sales and strength of the brand. Ace’s 4,600 stores in all 50 states and more than 60 countries generate annual retail sales of approximately $12 billion. Headquartered in Oak Brook, Illinois, Ace currently operates 14 distribution centers in the U.S. and one in Shanghai, China. Ace employs approximately 4,500 corporate team members worldwide and has four regional offices, located in Raleigh, North Caroline; Atlanta, Georgia; Denver, Colorodo; and Woodridge, Illinois. The Ace Paint division, which sells architectural coatings through its retail locations, generated revenue of $110 in 2010. During the year Ace Paint launched Royal Finest, a premium low VOC, acrylic latex paint with Scotchgard Protector.