MARKET BASKET DEAL: CEO Arthur T. Demoulas will return and take over day-to-day operations

[unhappycamper]

http://www.tauntongazette.com/article/20140828/NEWS/140826792/1994/NEWS

MARKET BASKET DEAL: CEO Arthur T. Demoulas will return and take over day-to-day operations

TEWKSBURY — A New England supermarket chain that has been in turmoil for weeks over a workers' revolt and customer boycott has announced that the former CEO is buying the company from rival relatives.

Market Basket said in a statement late Wednesday that former CEO Arthur T. Demoulas would be returning to the company and that he and his management team would handle day-to-day operations while the purchase is completed.

Arthur T. Demoulas has reportedly made a $1.5 billion offer to buy out the part of the company controlled by his cousin, Arthur S. Demoulas.

The company's two current CEOs, Felicia Thornton and Jim Gooch, are to remain in place until the deal is closed, the statement said. The closing is expected in the "next several months."

[Paper Roses]

1. I'm anxious to get back to MB. Sick of shopping at S&S and paying a lot more.

I am glad this is settled and hope the best for all the workers who worked so hard to make this happen. The restocking will be quite a chore but I bet there will be smiles on the faces of all the workers.

I will wait a week before going. Everyone I know is a MB customer. On an 'off' day the store is crowded. I can't imagine how hectic the first few reopening days will be.

It would be smart merchandising if the stores that benefited from the strive lowered their prices to try and keep the dollars and customers they made from this strike.

Aside from the higher prices, one of the places I shopped during this strike is half department store, half grocery store. I shop for food at the market, not books, lawn chairs, BBQ's and the tons of other space-taking items. Maybe if these other stores would stick to regular grocery items like food and sundries, they might be able to lower food prices to better compete.

Cheers to MB employees.

[rox63]

2. I may just need to buy some celebratory groceries at MB tonight

I've been shopping at Hannaford's while the MB saga dragged on. I'm just glad I'll be getting my grocery store back.

[merrily]

3. Dancin' in the street!

Logistically, my realistic options are Stop and Shop and Whole Foods. (I am still sad about the disappearance of Johnnie's.)

But, I am very happy for the Market Basket employees and their customers.