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In 1918, Louis Balducci Sr., from Bari, Italy, rented a produce pushcart for $5.00 a week in Greenpoint, Brooklyn.
Andy Balducci eventually took over ownership of the company, while his son-in-law, Kevin Murphy, headed up the Baldor division, working tirelessly to gain market share in a competitive wholesale market. It was Andy who went into business with his father when he started an open-air fruit and vegetable stand on Greenwich Avenue in 1946.
Grace married Joe in the late 1950’s and he became a partner in the original Balducci’s.
In 1952, Andy married Nina D'Amelio. ''Nina didn't want to be married to a man with dirty fingernails, and her father had a business where he was a white collar executive,'' said Andy's cousin Charlie Balducci.
But when all the papers were signed, Louis Balducci had no part of anything he started. It is almost impossible to sort out why Louis, the founder of the company, did not sign the 1972 lease for the new store or join the newly formed corporation.
In 1991 Kevin established Baldor as an independent company, moving the warehouse to a facility on Borden Ave in Long Island City, taking with him a handful of Balducci employees.
But Louis B. left Balducci's in the late 80's and became a partner in Agata & Valentina, a similar specialty grocery shop on the Upper East Side that opened in 1993.
With their daughters uninterested in taking over the store, Andy and Nina sold in 1999 for $26.5 million to Sutton Place Gourmet, a Maryland-based company.
The flagship store in on Sixth Avenue in Greenwich Village closed in January 2003 but a branch store, on West 66th Street, remained open.
In November 2003, the company was purchased by an investment group led by Bear Stearns Merchant Banking.
The new flagship store on Eighth Avenue at 14th Street in Manhattan opened in December 2005.
In April, 2006 Baldor Boston opened in Chelsea, Massachusetts.
In April 2009 Balducci's was sold to Kings Food Markets, a portfolio company of Angelo, Gordon and Co.
There are currently eight full-service retail stores in Connecticut, Maryland, Virginia and New York (Scarsdale). In 2012, Balducci's returned to New York with Balducci's Gourmet on the Go Café in Hearst Tower, which serves prepared meals and soups as well as a gourmet salad and coffee bar.
In 2016, Kings and Balducci's were sold to GSSG Capital.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Giant Eagle | 1931 | $8.9B | 37,000 | 328 |
| Sprouts Farmers Market | 2002 | $7.7B | 35,000 | 736 |
| Kroger | 1883 | $147.1B | 465,000 | 10,624 |
| Kohl's | 1962 | $16.2B | 110,000 | 1,410 |
| Whole Foods Market | 1978 | $16.0B | 91,000 | 1,560 |
| The Great Atlantic & Pacific Tea Company | 1859 | $49.9M | 28,500 | - |
| Panera Bread | 1981 | $2.8B | 140,000 | 3,321 |
| Staples | 1986 | $18.2B | 75,000 | 1,959 |
| Sonic Drive-In | 1953 | $423.6M | 5,000 | 4,404 |
| Dean & DeLuca | 1977 | $190.0M | 765 | - |
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