Sam's Italian Eateries Sold With Goal of Employee Ownership

LEWISTON, Maine (AP) — A series of Italian sandwich retailers has been bought to a New York firm that assists small companies as they transition to worker possession.

Teamshares buys corporations whose homeowners are retiring — and Sam’s Italian Meals suits the standards. The proprietor, Richard Michaud, is retiring after having labored at Sam’s together with his spouse since 1988.

Michaud mentioned the enterprise will proceed, employees will probably be retained, and there will probably be new alternatives.

Based in 1939 in Auburn, Sam’s Italian Meals shortly outgrew that location and moved to Lewiston, the place operations expanded with a bakery, after which pizza. Ultimately extra places have been added.

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