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On August 27, 2014, the shareholders of Market Basket reached a deal to sell the remaining 50.5% shares of the company to Arthur T. Demoulas and his sisters for $1.5 billion. [ 1 ] [ 34 ] According to Fortune , Demoulas was backed by The Blackstone Group , a private equity firm that put up over $500 million towards the purchase price. [ 35 ]
John Demoulas was born on March 22, 1915. During his youth, he worked in his family's market. As an adult he ran a chain of liquor stores, a bar in Lowell (the Golden Nugget), and Marion's Cafe, also in Lowell. [6][7] John Demoulas died on March 8, 2000. Demoulas had four children (John, Arthur, Pamela, and Kathleen) with his wife Marion and ...
On August 27, 2014, the shareholders of Market Basket reached a deal to sell the remaining 50.5% shares of the company to Arthur T. Demoulas for $1.5 billion. [44] According to Fortune , Demoulas was backed by The Blackstone Group , a private equity firm that put up over $500 million towards the purchase price. [ 45 ]
Arthur T. Demoulas, CEO of DeMoulas Market Basket [27] Rob Oppenheim, professional golfer [28] Briga Heelan, actress; Martin Johnson (musician), former lead singer of Boys Like Girls; Ryan Hanigan, professional baseball player [29] Buddy Farnham, former New England Patriots wide receiver
The first store opened in Pasadena on Colorado Boulevard at Meredith in 1930. [1] The chain had 14 stores in the Pasadena area by 1934. [2] The chain had 42 locations in 1959 including as far as Santa Ana and San Bernardino. [3] Kroger bought the chain in 1963 when Market Basket annual sales were $121 million (~$923 million in 2023).
Its customer loyalty is based 100% on one factor -- price. A recent study of Boston area supermarkets showed that Market Basket has by far the lowest prices in the area. The quality is about the same as its competitors, except that its stores are not as nice looking and its produce is fresher.
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Hannaford was founded in 1883 by Arthur Hannaford as a small produce store along the Portland, Maine, waterfront. [4] In 1915, its location was 164–168 Commercial Street, a site now occupied by a Gorham Savings Bank. [5] The company's warehouse was at today's 25 Market Street. [6]