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Fuller Market Basket Inc history
Fuller Market Basket Inc company history timeline
In 1917 Greek-American Athansios "Arthur" Demoulas and his wife Efrosine left their factory jobs and opened a "mom and pop" grocery store in Lowell, a working-class city in northeastern Massachusetts.
The 1964 oral agreement between the two brothers to split the business evenly was repeatedly relied upon as a binding agreement that both brothers upheld till the day that George Demoulas died.
After George Demoulas died unexpectedly of a heart attack while vacationing in Greece in 1971, his widow Evanthea and their children acquired half of the shares of the business.
In 1990, Evanthea and her children received a tax notice concerning their sale of stock in the company, an event of which they claimed in later lawsuits to be totally unaware.
In 1997, according to some critics, Mike Demoulas' legal team perhaps crossed the line in zealously representing their client.
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