Daily Talker: Arthur T. Demoulas Offers To Buy Market Basket
The former CEO of Market Basket says he will make an offer to buy the Market Basket supermarket chain.
In a statement provided to the Boston Globe and the Lowell Sun, Arthur T. Demoulas said he and his side of the family will try to buy the 50.5% of the company owned by other relatives who forced him out as CEO last month.
“We believe that our offer is a very fair and full one, and should meet or exceed a seller’s expectations of the value of the company,” said Demoulas in the statement. “We care deeply about Market Basket and all of our associates, and we want to work together to return the company back to its successful model for serving our loyal customers.”
Employees have walked off the job and held protests since July 18, demanding the board of directors reinstate Demoulas, and some customers are boycotting the chain in support.
The board is currently led by Demoulas’s cousin, Arthur S. Demoulas. The new co-CEO’s most recently released a statement on Tuesday, saying they are committed to continuing the company’s “tradition of excellence and dedication.”
What’s your reaction to the effort by Arthur T. Demoulas to buy the Market Basket chain? Share your comments below, and watch for them on WBZ News in the Morning from 4:30 to 7:00 a.m.