Bashas’ Enters Agreement For New Chapter Of Growth
Bashas’ Family of Stores announced today that it has signed a definitive agreement to be acquired by The Raley’s Companies, an independent regional grocer based in California. The agreement brings together two leading grocers with rich legacies and shared values: employee achievement, exceptional customer service, and a deep commitment to local communities.
In a joint video presentation earlier today, Edward “Trey” Basha, president and chief executive officer of Bashas’, and Keith Knopf, president and chief executive officer of The Raley’s Companies, informed Bashas’ members that Bashas’ store banners, employment, and operations across Arizona will continue without change or interruption.
Trey, who is also the grandson of the company’s co-founder, said, “Today’s announcement represents the beginning of Bashas’ next, exciting chapter as a fully formed operating company within the larger Raley’s enterprise. 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.”
Trey continued, “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.”
“Today marks an important milestone in the ongoing legacy of two great companies.”
“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,” said Keith Knopf. “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.”
Highlights of the agreement:
- Bashas’ will continue to serve customers across Arizona and New Mexico and its Tribal
- Nation Partners, including the Navajo Nation, White Mountain Apache, San Carlos Apache, and Tohono O’odham.
- Bashas’ will be a fully formed operating company within the Raley’s enterprise and will maintain its corporate headquarters, stores, and distribution center in Arizona.
- The transaction will protect the store banners customers know and love with no changes to local store leadership.
- There are no planned changes to employee roles, compensation, or benefits as a result of the transaction.
In this transaction, The Food Partners served as strategic and financial advisor to Raley’s, and Snell & Wilmer served as legal counsel to Raley’s. Citi served as a strategic and financial advisor, and Burch & Cracchiolo, P.A. served as lead legal counsel for Bashas’. The transaction is expected to close by the end of 2021.
About Bashas’ Family of Stores
Bashas’ Family of Stores – the family-owned grocer that operates Food City, AJ’s Fine Foods, Eddie’s Country Store, and both Bashas’ and Bashas’ Diné supermarkets – is an Arizona-based company founded by brothers Ike and Eddie Bashas, Sr. With more than 100 grocery stores, it is one of the largest employers in the state and one of the Best Places to Work in Arizona. Since the company’s inception in 1932, Bashas’ has given back more than $100 million to the communities it serves. For more information, visit www.bashas.com.
About The Raley’s Companies
The Raley’s Companies is a private, family-owned and purpose-driven retail company headquartered in West Sacramento, CA. Since our founding in 1935, our store operations have grown to include more than 225 locations across four states and four Tribal Nations under nine well-known banners: Raley’s, Bel Air, Nob Hill Foods, Raley’s O-N-E Market, Bashas’, Bashas’ Diné, Food City, AJ’s Fine Foods and Eddie’s Country Store. In addition, Raley’s Holding Company bridges the divide between the digital and physical retail experiences through the operation of Apium Logistics and a digital subscription technology company. Built on a higher purpose, the organization and our over 23,000 employees are committed to making healthy foods more accessible to everyone while doing right by our team members, communities and planet.
Bashas’ Family of Stores: Ashley Shick, email@example.com or (480) 895-5369
The Raley’s Companies: Chelsea Minor, firstname.lastname@example.org or (916) 207-7060