Labor Day celebrations came early for employees of the New England supermarket chain Market Basket, whose operations had been brought to a near standstill when workers, managers and even customers protested a shake-up in its boardroom.

Employees rallied on picket lines outside of the chain’s 71 stores and on social media in support of the company’s former president Arthur T. Demoulas -- known affectionately by his supporters as Artie T. or A.T.D. -- who had been pushed out by his cousin, Arthur S. Demoulas, after a longstanding family-business rivalry. Employees’ efforts paid off when an agreement was reached late Wednesday allowing Arthur T. and his allies, who owned 49.5 percent of the company’s shares, to buy out Arthur S. and his allies’ 50.5 percent stake for $1.6 million to regain control of the business.

Members of Arthur T.’s management team, who were fired when they protested their boss’ forced departure earlier this year, will also be reinstated, the company said in a statement.

More cynical watchers may have perceived the dispute as just one faction of a very rich family warring against the other. However the resolution, which was helped along by Massachusetts Gov. Deval Patrick and New Hampshire Gov. Maggie Hassan, is already beingcalled the biggest labor story of the year.