The nearly 90-years-old Bashas’ Family of Stores has signed a definitive agreement to be acquired by California-based regional grocer Raley’s Holding Co. Both companies are family-owned and independent. Financial terms of the transaction were not revealed.
Based in Chandler, Arizona, Bashas’ operates a total of 113 stores across Arizona, New Mexico and the Navajo Nation. In addition to its namesake brand, the company’s banners also include Food City and AJ's Fine Foods. Raley’s operates 124 stores in northern California and Nevada under banners that include Raley's, Bel Air Markets, Nob Hill Foods and its newest concept, Raley’s O-N-E Market.
According to the agreement, Bashas' will be a fully formed operating company within the Raley’s enterprise and will maintain its corporate headquarters in Arizona. Its store names will remain the same, with no planned changes to employee roles, compensation or benefits.The sale is expected to close by the end of the year.
“Today’s announcement represents the beginning of Bashas’ next, exciting chapter as a fully formed operating company within the larger Raley’s enterprise,” stated Edward "Trey" Basha, president and CEO of Bashas’. “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. Customers, members, and local Arizona communities will also benefit from the seamless alignment of culture and values that we share with Raley’s. While the Basha family will no longer have ownership roles, we look forward to seeing the business thrive for generations to come."
Keith Knopf, president and CEO of Raley's Holding Company said: "Today marks an important milestone in the ongoing legacy of two great companies. We are humbled to assume stewardship of the Bashas’ organization. Raley’s history of respecting the legacy of the brands we acquire assures continuity for Bashas’ customers, employees, and business partners and, on behalf of our 13,000 employees, I want to welcome Bashas’ team members to our organization.”