In The 2000s, McDonald's Owned This Once-Popular Fast Food Chain You Probably Forgot About

In the late 1990s and early 2000s it seemed like restaurants were in an expansion frenzy, merging with competitors and experimenting with new ideas all over. One of the most surprising deals happened right in the middle of that time in 1999, when the fast food giant McDonald's decided to purchase Boston Market.

Boston Market is a (sadly shrinking) restaurant chain known for its fast casual meals. Dishes at Boston Market have a home-cooked vibe that's a welcome change from fast food's typical burgers and fries offerings. When it first hit the scene in the '80s, Boston Market became super popular really quickly with its comfort food: rotisserie chicken, chicken pot pies, mashed potatoes, meatloaf, and numerous sides. It's like getting a hot at-home meal in minutes without any of the cooking or cleanup — a an innovative idea for the restaurant business at that time.

The most surprising part of the whole deal was that McDonald's only paid $173.5 million for a whopping 751 Boston Market locations. That was a steal, even in the late 1990s. McDonald's was able to get those hundreds of locations for such a bargain because the chain had wound down in popularity, and then filed for bankruptcy protection. McDonald's saw potential in the brand and snatched it up to bring it back to its full glory.

Boston Market got its start in Newton, Massachusetts, in 1985, but, at the time, was named Boston Chicken. Its two founders were Arthur Cores and Steven Kolow from Boston. Cores had experience managing a grocery store, while Kolow was in the real estate business. Their idea was to open a restaurant that served homemade meals but were ready as quickly as fast food. The chain was an instant hit.

In 1989, the man who opened the first Kentucky Fried Chicken in Boston, George Naddaff, fell in love with the restaurant and bought it (after some persuading). He called it New Boston Chicken, Inc. Then, in 1991, Saad Nadhir and Scott Beck invested in the company and shortened the name to Boston Chicken. It wasn't until 1995 the name was changed to Boston Market.

Unfortunately, the rapid expansion and success of the chain led to its downfall. The company took on a lot of debt to open its hundreds of locations, and ultimately filed for bankruptcy in 1998. That's when McDonald's stepped in. But in 2007, McDonald's sold Boston Market to Sun Capital Partners, a private equity firm. Today, Boston Market is still around, although it now has far fewer locations. There are now only 27 locations, which are owned by Engage Brands. Fortunately, you can get some Boston Market meals in the frozen food section of the grocery store, like this steak dinner and chicken pot pie.