Mugar Enterprises, Inc.

History

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History

Mugar Enterprises, Inc. (MEI) carries with it a rich history focused on managing a diverse portfolio of real estate, private equity investments, operating companies, equities, bonds, and other assets. MEI is a privately held family firm formed in 1992 by David Mugar (previously The Mugar Group). Collectively, the family and its affiliates have over 50 years of real estate development and investment expertise. MEI’s real estate portfolio includes shopping centers, life science developments, commercial office space and industrial buildings. MEI also manages entertainment businesses and other closely held investments. Over the years, the Mugar family has maintained a strong commitment to the City of Boston and various philanthropic community activities.

Stephen P. Mugar was born in Armenia in 1901. He immigrated with his family to America in 1906 and alongside his family, founded and ran Star Market grocery supermarkets which ultimately grew to 62 locations throughout New England. In 1964 the supermarket chain was sold to the Jewel Company, and the Mugar family focused its efforts on managing and growing Stephen’s real estate portfolio. Stephen’s son David Mugar was born in 1939. In 1963, after a brief stint at Babson College, David joined his father in the family supermarket business. In 1974, David helped create Boston’s 4th of July concert and fireworks celebration on the Esplanade, partnering with acclaimed Arthur Fiedler of the Boston Pops. David recommended that Fiedler conduct Tchaikovsky’s “1812 Overture,” and he would coordinate accompanying live cannon fire, area church bells, and fireworks over the Charles River as part of the celebration. David passed away in January 2022, but his legacy and Mugar Enterprises continues. The family will always feel a great responsibility to ensure the company and its employees manage a successful portfolio of diverse investments while continuing to serve the Boston community..

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