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Boston Market history
Boston Market company history timeline
Standing in line in 1988 was George Naddaff, a local businessman who had opened the first Kentucky Fried Chicken stores in the Boston area.
Cores and Kolow Partner with Naddaff: 1989
He cashed out in 1989, at the age of 31, selling his stake to Blockbuster for $120 million.
By the middle of 1990, he had expanded the New Boston Chicken chain to a total of 13 restaurants, ten of which had been opened after the start of the year.
Naddaff expected the combined sales to top $7 million annually in 1990.
Cores told The Boston Business Journal in 1990: provide customers with an alternative to the usual fast-food offerings and a way to avoid the bother of preparing a fresh meal at home.
Furthermore, an additional 15 or more stores were expected to open by the beginning of 1991 in Massachusetts, Connecticut, and New York.
However, in 1991, Boston Chicken caught the eye of another chain-store capitalist--Saad J. Nadhir.
1991: Sales rise to nearly $21 million.
Two other businessmen, Saad J. Nadhir and Scott Beck, bought a controlling interest in New Boston Chicken in 1992.
Interestingly, in October 1993, Cepiel purchased the same site on which the McDonald's that first employed him had once stood.
During 1993, in fact, the chain nearly tripled in size to 217 stores.
By mid-1994, in fact, the company was employing 16,500 workers and operating a total of 330 stores, and the chain was expanding at a rate of one new store every business day.
Boston Chicken posted huge gains during the remainder of 1994, ending the year with 534 stores in its chain and continuing to add about one store each day and to hire 100 new workers every week.
Cores retired in 1994.
Boston Chicken became Boston Market in 1995.
Bagels chain of bakery cafés in 1995, after acquiring several smaller chains of bagel-centric bakeries.
schwartz, nelson d. "the boston chicken problem." fortune, 7 july 1997.
1997: The company begins a restructuring effort as sales and stock price begin to falter.
Prior to filing Chapter 11, the company posted a $223.9 million dollar net loss on $261.1 million in revenues in 1997.
papiernik, richard l. "boston chicken: tough year ahead." nation's restaurant news, 1 june 1998.
During 1998, J. Michael Jenkins was named chairman and CEO of the firm as both Nadhir and Beck resigned.
In 1998, the company filed for Chapter 11 bankruptcy.
In December 1999 Jack Greenberg, Chairman and CEO of McDonald's, was questioned about the planned acquisition of Boston Market.
——. "did somebody say mcrescue? mcd to buy boston market." nation's restaurant news, 13 december 1999.
——. "investors show a lack of concern for mcd's boston chicken buyout." nation's restaurant news, 7 february 2000.
During 2000, the company launched its line of frozen meals in supermarkets through a partnership with HJ Heinz Company.
mcdonald's to launch boston market in australia, plans brand growth." nation's restaurant news, 18 june 2001.
In January 2002 Boston Market was working on new initiatives designed to reestablish its customer base.
In 2002, the company operated 650 company-owned restaurants in 28 states that offered home-style entrees, fresh vegetables, sandwiches, salads, soups, side dishes, and desserts.
In April 2004, Boston Market introduced chilled menu items to be sold at supermarkets.
In 2005, Boston Market also started offering limited-time offers, such as Crispy Country Chicken, an oven-baked chicken breast with gravy.
On August 6, 2007, McDonald's announced plans to sell the chain to Sun Capital Partners, a transaction that was completed on August 27, 2007.
The Big Dig, which rerouted the artery underground (completed in 2007) offered its own challenges with proposed development of reclaimed land.
By 2008, Boston Market continued to struggle to find its place in trying to compete with fast food and closed several underperforming locations.
In 2015 the market district is poised to have its first major expansion in almost a century with the opening of the Boston Public Market.
In April 2018, Boston Market announced that it was expanding its menu to offer rotisserie prime rib nationwide, three days a week.
In April 2020, Sun Capital Partners sold Boston Market to the Rohan Group as part of Engage Brands.
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Boston Market competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| BurgerFi | 2010 | $34.7M | 700 | 7 |
| Red Lobster | 1968 | $2.6B | 55,000 | 2,239 |
| Wendy's | 1969 | $2.2B | 12,500 | 3,856 |
| Qdoba | 1995 | $437.2M | 16,000 | 1,022 |
| Arby's | 1964 | $3.9B | 80,000 | 2,803 |
| Bob Evans Restaurants | 1953 | $384.9M | 30,625 | - |
| Denny's | 1953 | $452.3M | 3,100 | 1,150 |
| Chick-fil-A | 1946 | $11.3B | 35,574 | 11,608 |
| Subway | 1965 | $16.1B | 5,000 | 489 |
| IHOP | 1958 | $349.6M | 32,300 | 1,813 |
Boston Market history FAQs
Zippia gives an in-depth look into the details of Boston Market, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Boston Market. The employee data is based on information from people who have self-reported their past or current employments at Boston Market. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Boston Market. The data presented on this page does not represent the view of Boston Market and its employees or that of Zippia.
Boston Market may also be known as or be related to Boston Chicken (1985–1995), Boston Market, Boston Market Corporation and Mid-Atlantic Restaurant Systems.