Allred's Ace Hardware was started in 1957 by Gordon Allred and his father Kenneth. They bought a small store in Pleasant Grove called Alpine Lumber and changed the name to Allred Builders Supply. Gordon supplied building materials to many of the homes that were being built. Steve joined the business in 1986 and started selling mattresses in the basement.

Gordon and his wife Maxine died in a car accident in 1992. Steve and Jeff Allred then started managing and running the family Hardware store. In 1997 they were out growing the store and bought the Food Savers grocery store, giving them 24,000 square feet of retail space instead of 4,500 square feet. They added a modern paint department, a furniture department, expanded the fastner section and brought much of the building materials inside. In March of 2009 Jeff and Steve opened a 2nd location in Highland and has been well received by the local communities.