Ace Hardware on South Main Street is under new ownership as of Friday.

Dave and Kati Thompson have officially completed the purchase of the business from founder Floyd Craft.

Craft approached the Thompsons in the summer of 2022 as he was succession planning for his businesses. He wanted a local family to take over his business – a family who is committed to the community and to the long-term stability of Downtown Bowling Green.

Dave and Kati Thompson were honored to have been approached by Craft, and decided to evaluate if owning a hardware store would be a good addition to their portfolio of family businesses. After several conversations with Craft and ACE Corporate, the Thompsons decided owning and operating a hometown hardware store is a perfect complement to their existing businesses and particular skill sets.

Dave founded Thompson & Thompson Construction in 1995 and has been operating that business for 27 years. His construction business is thriving and will remain in operation with the purchase of Ace Hardware. That business focuses on residential and commercial new construction and remodeling.

Kati is the executive director of Bowling Green Economic Development, focused on attracting and retaining businesses in the city. She also owns Eden Fashion Boutique, a contemporary women’s clothing store in downtown Bowling Green.

Together, the couple owns TDK Property Group, in which they operate commercial and residential properties. In addition, the Thompsons have five children who enjoy working in their family businesses and are thrilled to join the Ace Hardware team.

Dave’s passion for helping people solve problems within their homes or places of business is a natural fit for the owner of a hardware store. Ace’s corporate brand is “the helpful place” and that is exactly what local residents can continue to expect. Dave is excited to continue to supply the Bowling Green area with their hardware needs while also offering expert advice. He will also increase the store’s ability to serve Bowling Green contractors and subcontractors.

Through his decades of experience in the field, he’s passionate about meeting the needs of the tradespeople and ensuring they have the ability to source products from a locally owned business.

Craft’s legacy in downtown Bowling Green is extraordinary, the Thompsons said. They want to honor the incredible work he has put into ACE and Downtown Bowling Green as a whole. Craft and the Thompsons are thrilled about this transition and plan to work hand in hand to ensure a smooth changeover. The current ACE team and long-time store manager Carol Tolles will all continue with their employment and are excited about the transition as well. Ace Corporate is requiring some modifications to the store in light of the change of ownership.