West Sacramento, Calif.-based Raley’s Holding Co. signed a definitive agreement to acquire Chandler, Ariz.-based Bashas’ Family of Stores.
In a joint video presentation to Bashas’ employees Oct. 1, Edward “Trey” Basha, president and CEO of Bashas’ and grandson of the cofounder, and Keith Knopf, president and CEO of Raley’s, said the Basha family will no longer hold ownership roles, but Bashas’ Arizona store banners, employment and operations would not be changed, both companies' public relations departments confirmed.
“In Raley’s, we will have a partner who will ensure we continue delivering exceptional customer and member experiences at a time when regional grocery competition has never been tougher – while staying true to the values that have shaped our history over 90 years,” Basha said in a news release.
According to the agreement:
- Bashas’ will continue to serve customers throughout Arizona and New Mexico and its Tribal Nation partners, including the Navajo Nation, White Mountain Apache, San Carlos Apache and Tohono O’odham;
- As a fully formed operating company within the Raley’s enterprise, Bashas’ will retain its corporate headquarters, stores and distribution center in Arizona;
- The deal will protect Bashas’ established store banners, with no changes to local store leadership; and
- There are no planned changes to employee roles, compensation or benefits.
The deal is expected to close by the end of 2021.
“Raley’s history of respecting the legacy of the brands we acquire assures continuity for Bashas’ customers, employees, and business partners …” Knopf said in the video, according to the release. “The Bashas’ company is strong and well-positioned in the market. We are confident that with our robust digital capabilities and combined purchasing power, we can further enhance the overall customer experience.”
Privately owned and family-run, Raley’s operates more than 120 stores under four banners: Raley’s, Bel Air Markets, Nob Hill Foods and Raley’s O-N-E Market, with about 13,000 employees in California and Nevada.
Bashas’ Supermarkets Inc. is a family-owned company with more than 100 grocery stores, including Food City, AJ’s Fine Foods, Eddie’s Country Store, and both Bashas’ and Bashas’ Diné supermarkets.