Borman Family

Tom and Abraham (Al) Borman were brothers who emigrated from Russia in 1914, eventually settling in the Detroit area. Together, they opened their first store, Tom's Quality Market, in 1927. By 1935 they had ten markets, and by 1955 they had 26, which operated under the names of "Food Fair" and "Lucky." The Borman brothers soon decided to merge the stores and incorporate them under the name of "Food Fair" Markets. Between 1956 and 1964 they continued to open new stores as well as acquire smaller local chains, resulting in their doubling in size to 52 stores total.

Borman's Inc. quickly became well known in the supermarket business for its stores' low prices and quick growth, and on January 20, 1959, the company made its first public offering of stock, trading on the New York Stock Exchange. Besides Food Fair Markets, Borman's Inc. also opened a chain of 7 discount food stores under the name "Savon," and was the first company to enter into an agreement with K-mart to operate a supermarket within the discount chain. Borman's Inc. expanded and diversified further by buying up other companies such as Detroit Pure Milk Company (1962), the Wesley Quaker Maid Ice Cream Company (1963), and several department stores and drugstores.

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2016-08-11 02:08:18 pm

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2016-08-11 02:08:18 pm

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