Peerless is a family-owned small business and was started in downtown Marion in 1901 by C. A. Thompson. In 1910, John H. Macadam purchased Peerless, then located across from Marion's #1 Fire Station. Macadam moved to it's present location in 1935.

Ownership in 1954 passed on to John H. Macadam's sons, James and Howard. Howard became sole owner in 1965. In 1978, Kurt Kohlmorgen, present owner and great-grandson of John H. Macadam purchased Peerless from his grandfather Howard. Today Kurt is joined by his wife, Anne, in ownership and the two are blessed with great employees and customers alike.