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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.
Kroger bought the chain in 1963 when Market Basket annual sales were $121 million (~$923 million in 2023). [4] In 1982, Kroger decided to exit the competitive Southern California supermarket business and broke up the 65 store Market Basket chain by selling many of stores to Ralphs, Boys, Hughes and Vons while closing the rest.
During his tenure as CEO, sales grew from $3 billion a year to $4 billion, and the number of employees grew from 14,000 to 25,000. During the same time, competitors Stop & Shop and Shaw's closed many of their stores due to financial troubles. Market Basket also faced new competition from Wegmans, [17] which opened its first Massachusetts store ...
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