Bashas’ Family of Stores recently announced that it has signed a definitive agreement to be acquired by Raley’s Holding Company, 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, according to both grocers.
In a joint presentation, Edward “Trey” Basha, president and chief executive officer of Bashas’, and Keith Knopf, president and chief executive officer of Raley’s Holding Company, 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, says, “The 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.”
“Customers, members, and local Arizona communities will also benefit from the seamless alignment of culture and values that we share with Raley’s,” he continues. “While the Basha family will no longer have ownership roles, we look forward to seeing the business thrive for generations to come.”
“This 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,” says 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.
• 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 because 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.