Industry Retail Website MarketBasketFoods.com Founded 1961 | Products supermarkets Number of locations 34 Number of employees 2,200 | |
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Headquarters Nederland, Texas, United States CEO Bruce Thompson (Feb 1962–) Founders Ed Hughes, Howard Hatfield, Bruce Thompson, Roy Theriot, Johnnie Alford Profiles | ||
Restored market basket ceo thanks workers
Market Basket is a supermarket chain that serves southeast Texas and Louisiana. Formed in 1962, the grocer now operates 34 Market Basket stores and four Lucky Seven conventional supermarkets and employs 2,200 associates. It is headquartered in Nederland, Texas.
Contents
The restored chief of the market basket supermarket chain told workers at company headquarters in ma
History
Johnnie Alford, Ed Hughes, Howard Hatfield, Roy Theriot and Bruce Thompson founded Market Basket in early 1962. Each was an independent grocer, owning one store each. The five grocers joined together to keep advertising costs low and pool their purchasing power. 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. In 1983, Bruce Thompson purchased Hughes’ interest in their jointly held corporation.
During the 1980s, two new stores were constructed, and the chain grew with the acquisition of 14 more stores formerly operated by Piggly Wiggly, Safeway, Theriot’s, Winn-Dixie, and Weingarten's.
The next decade saw Market Basket begin an extensive remodeling and expansion program for half of the chain. More stores in the 1990s were acquired, including four cash and carry locations and three AppleTree stores. The Mauriceville location was replaced with a newly constructed store during this time.
During the summer of 2001, the company purchased two Hughes Market Basket stores, in Port Arthur and Nederland. In 2002, the grocer purchased two Price-Lo stores in Vidor and DeRidder. Stanley’s in Leesville and Pair’s in Winnie were added, as well.
Going back as far as the 1940s, headquartered in Commerce, CA (Los Angeles), several supermarkets in Southern California operated under the Market Basket branding. The stores were reverted to the Boys Markets branding, after acquiring the chain. Boys Markets was acquired by the Yucaipa Companies in 1989. When Yucaipa acquired Ralphs, the Boys brand disappeared.