Arthur T. Demoulas Makes Offer to Buy Market Basket

By Liz Taurasi

It’s been nearly a week since Market Basket employees came together in an unprecedented show of solidarity vowing to not work for anyone other than their ousted CEO Arthur T. Demoulas.

And they may not have to.

Arthur T. and his side of the family want to buy the chain and have made an offer to buy the other 50.5 percent of the company, the former CEO announced in a statement released Wednesday.

“We believe that our offer is a very full and fair one and should meet or exceed a seller’s expectations of the value of the company,” Demoulas said in the statement.

Demoulas was ousted in June when a majority of the company's board shifted in support of Arthur T.'s cousin and rival, Arthur S. Demoulas. Arthur T. Demoulas was replaced with two co-CEOs from outside the company.

“We care deeply about Market Basket and all of our associates, and we want to work together to return the company to its successful model for serving our loywal customers ” Arthur T. said in the statement.

On Monday, Arthur T. spoke publicly on the situation for the first time, issuing a statement calling Market Basket employees “fiercely loyal” and urging the company’s board to reinstate those who lost their job over the weekend.

It’s been nearly a week since employee protests began, along with customers boycotting the chain in support of Market Basket employees. Parking lots of these beloved markets are empty except for the few cars of those working inside or protesting, and shelves are bare as deliveries to stores within the chain have halted since last Friday’s work stoppage at the Tewksbury warehouse.

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