The Delhaize Group, the Belgian grocery chain that owns U.S. stores Hannaford and Food Lion, may be putting in a bid for Market Basket. After an embittered family battle, ousted president Arthur Demoulas could be the person standing in the way.
The future of the supermarket chain's sale will most likely lie in negotiations over who will run the fractured company, reported the Boston Globe.
Demoulas is a competing bidder, refusing to sell his 49.5 percent in the company. He wants to have complete control by making the company private. He has become a sort of hero to many of the New England chain's employees, who have protested in the streets to keep him on as owner. Their loyalty was won over by solid wages, regular bonuses and generous profit sharing.
But Demoulas' policies could clash with those of Delhaize.
"Hannaford wants to make some money out of this," David Livingston, a supermarket industry analyst at DJL Research told the Boston Globe. "This is bad news for everybody, except shareholders—bad news for customers and bad news for employees."
Thus far, Delhaize and Market Basket have refused to comment. Combining the two companies would double Delhaize's market share in the Northeast.
-See this Boston Globe article
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