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PHOENIX – Chandler-based Bashas announced Friday that it has signed an acquisition agreement with Raley’s Holding Company, a California grocer.
All banners, employment and store operations in Arizona will continue without change or disruption, said Edward “Trey” Basha, President and CEO of Bashas, and Keith Knopf, President and CEO of management of Raley’s Holding Company, in a joint video presentation Friday to Bashas. ‘ workers.
The Basha family will relinquish ownership roles under the deal.
The transaction, which is expected to be finalized by the end of 2021, secures the continuation of Bashas’ store service across Arizona and New Mexico while allowing Bashas to be a fully incorporated operating company in within Raley’s company.
Its headquarters, distribution center and stores will also remain in Arizona.
Bashas brands also include Food City and AJ’s Fine Foods.
“The Bashas’ business is solid and well positioned in the market. We are confident that with our robust digital capabilities and combined purchasing power, we can further improve the overall customer experience, ”Knopf said in the release.
Basha, the grandson of the company’s co-founder, said the announcement “marks the start of Bashas’ next exciting chapter as a fully incorporated operating company within the larger Raley’s business.”
“At Raley’s, we will have a partner who will ensure that we continue to deliver exceptional experiences to customers and members at a time when regional grocery competition has never been tougher, while staying true to the values that have shaped our history for 90 years, ”said Basha.
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