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On June 27, 1971, George Demoulas died of a heart attack while on vacation in Greece, making Mike the sole head of the Demoulas supermarket chain. Shortly thereafter, in an effort to skirt laws limiting the amount of beer and wine licenses one supermarket chain could have, Mike Demoulas began opening stores under different names.
Outside of Market Basket, Demoulas was known for his philanthropy. He gave millions of dollars to many causes, including programs for the blind and college scholarships. He was credited with helping revitalize the Acre by building a new supermarket and providing money for new infrastructure. [1] Demoulas died on May 24, 2003, at Massachusetts ...
The deal with Market Basket paid Retail Development and Management Inc. 7.5% of the total development costs compared to the traditional industry percentage at the time of 2-3%. Secondly, Arthur T. recommended Market Basket purchase a property in Bourne, Massachusetts, for $20.9 million. The Bourne property was owned by a company in which Arthur ...
Sep. 25—HOLLIS — The near $10 million sale of the former Laconia State School property to the real estate arm of the Market Basket Supermarkets chain cleared the Executive Council after ...
Three of the grocers remained one-supermarket operators while Hughes and Thompson formed a 50-50 corporation for joint expansion. Thompson and Hughes bought four stores as partners in the 1960s. During the early 1970s they obtained former A&P , Kroger and Weingarten's stores in Lake Charles , Beaumont , Port Arthur and Orange .
Southeastern Grocers (formerly Bi-Lo Holdings) is an American supermarket portfolio headquartered in Jacksonville, Florida.The portfolio was created by Lone Star Funds in September 2013 as the new parent company for Harveys, Winn-Dixie, and Fresco y Más.
Kroger bought the chain in 1963 when Market Basket annual sales were $121 million (~$923 million in 2023). [4] In 1982, Kroger decided to exit the competitive Southern California supermarket business and broke up the 65 store Market Basket chain by selling many of stores to Ralphs, Boys, Hughes and Vons while closing the rest.
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