National retailer Ace Hardware acquired Portland, Maine-based Emery-Waterhouse, distributor of paint, industrial, and hardware products in the northeastern and mid-Atlantic U.S.

Emery-Waterhouse will remain a separate company, and Ace Hardware says the distributor's CEO Steve Frawley will continue leading the company's operations as they distribute products from brands such as 3M, Stanley, and USG . The company's long-time majority owner, Charlie Hildreth, will also continue to have a presence in the organization.

"We are confident that both Ace retailers and Emery-Waterhouse customers will benefit from the additional scale and expanded assortments," said John Venhuizen, president and CEO of Ace Hardware.