Arthur T. Demoulas Completes Market Basket Pact
On Dec. 12, Arthur T. Demoulas and his family completed the purchase of the 50.5 percent of the Demoulas Supermarkets that they did not previously own, and now have 100 percent ownership of the Market Basket grocery store chain.
A private company, Market Basket will not provide further specifics of the terms of the financial transaction. However, the company said it was pleased that the loan package included significant participation by many New England-based banks. Further, they were able to take advantage of historically low interest rates.
Since the team led by Arthur T. Demoulas returned to Market Basket on Aug. 28, 2014, the following have occurred:
• Sales and customer counts have been higher than last year.
• Three new stores opened in the past six weeks—Revere, Littleton and Waltham—to bring the store count to 73 stores;
• 1,300 new jobs have been created; and
• An employee bonus of $49 million was shared this week with full- and part-time associates.
“Arthur T. Demoulas and the Market Basket team remain fervently dedicated to our customers and our ‘More For Your Dollar’ commitment to them,” said David McLean, Market Basket operations manager. “We eagerly embark on this new chapter for the company and expect steady growth in both the near and long term. The world witnessed just how incredible our customers and associates are and the rock solid commitment we have to our ‘people first’ culture.”
Washington D.C. Metro & Peapod To Test Pickup At Train Stations
Washington D.C. Metro is working with Giant and Peapod to test grocery order lockers at stations in the public transportation system. Giant’s online grocery delivery service, Peapod, will conduct a six-month pilot program at three Metro stations.
This is the first such partnership between an online grocery provider and a public mass transit provider.
During the online checkout process, Metro riders will have the option to choose the station where they pick up their order as well as the time of day most convenient for them based on the test schedule. A Peapod representative will service each of three stations, and each station will house an insulated locker for customer groceries. Shoppers will be able to order items online and pick them up Mondays, Wednesdays and Fridays from 4-7 p.m.
Fairway Icon Howard Glickberg To Retire As Vice Chairman
Howard Glickberg, who took his grandfather’s fruit and vegetable stand on 74th and Broadway in New York City and build it into 15 locations of Fairway Market across the Tri-State New York/New Jersey/Connecticut region, will retire from the company. Jack Murphy, Fairway Market’s chief executive officer, who added that Mr. Glickberg would remain on the company’s board of directors, made the announcement.
“Howie has been indefatigable and indispensable to Fairway’s growth over the past four decades,” said Mr. Murphy. “It was his vision to bring together the corner butcher, bakery, cheesemonger, fish market and farmer’s market all under one roof, and add in an unparalleled selection of traditional, specialty and organic groceries at the best prices. All this has brought Fairway iconic status and enabled the company to truly earn the moniker ‘Like No Other Market.’”
Mr. Glickberg said that his grandfather Nathan would be “amazed” and proud that the produce stand he opened more than 80 years ago has evolved into a company that is “beloved by so many people across the Tri-State region.”
Fairway Market has earned accolades and awards along the way including Entrepreneur of the Year from Deloitte & Touche; Business of the Year by the Westside Chamber of Commerce; Top 50 Influential Businessman in NYC by Crain’s; Top 50 Retailer by The Gourmet Retailer; Outstanding Specialty Food Retailers from Specialty Food; and Consumer Deal of the Year by M&A Magazine. Fairway also was listed on Inc.’s top 5000 fastest growing private companies for 2008, 2009 and 2010.
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Latest Word in Supermarket News...
• David Dillon will retire as the Kroger chairman of the board on Dec. 31 after 38 years of service. Last week the Kroger board elected Rodney McMullen, Kroger’s chief executive officer, to the additional post of chairman starting Jan. 1, 2015. Mr. McMullen has served on the board of directors since 2003.
• The J. M. Smucker Co. is increasing the list price on its K-Cup packs sold in the United States under the Folgers, Folgers Gourmet Selections, Cafe Bustelo and Millstone brand names. Prices will increase an average of 8 percent, effective Jan. 5, 2015, in response to sustained cost increases.
• Joey Kramer of Aerosmith, leader of the “Rockin’ & Roastin’” coffee brand, is opening a coffeehouse in North Attleboro, Mass., in early 2015. The coffeehouse will serve organic coffee in a rock-and-roll atmosphere.
• In the past month, the Vermont food industry and the Vermont Retail Grocers Assn. (VRGA) lost three retailers who have done so much for the association and their communities. The three passings are: Marcel Marquis of Shaw's, Steve Clayton of the Shelburne Supermarket and most recently Doug Tschorn of the Wayside Country Store.
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