The Demoulas family has finalized their deal in which Arthur T. Demoulas's side of the family will buy the shares of the Market Basket grocery chain that they didn't already own,
Boston.com reported.
Arthur T.'s side of the family previously owned 49.5% of the company's shares; they will acquire the remainder from the side of the family led by his cousin and rival, Arthur S. Demoulas.
The sale, reportedly for a price of about $1.6 billion, will be funded by debt, with no private equity involved, the Boston.com article said. Arthur T. has said he does not expect the debt to have a significant effect on the company's business model, the article said.
The company recently paid a total of $49 million in holiday bonuses to employees, according to the Boston.com report. Three new Market Basket stores opened since the deal for Arthur T. to gain control of the company was announced in August, and two more are scheduled to open in early 2015, the article said. (Source: Boston.com, Dec. 12, 2014.)
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