Raley’s announced Wednesday the completion of its acquisition of The Bashas’ Company, a deal first announced in October. The Bashas’ Company, which operates more than 100 grocery stores in Arizona (and two in New Mexico), will now join a newly formed enterprise, The Raley’s Companies.
“We are humbled by the opportunity to assume stewardship of the Bashas’ legacy,” said Michael Teel, owner & chairman of West Sacramento, Calif.-based The Raley’s Companies, which operates operates 124 supermarkets in northern California and Nevada under the Raley’s, Bel Air, Nob Hill Foods and Raley’s O-N-E Market banners.
“As the owner of a multigenerational family business, I, along with my wife Julie, understand the importance of this responsibility,” Teel added. “We will be worthy of the Basha family's trust, the communities' support and dedication of the nearly 9,000 team members across Arizona, New Mexico and the four Tribal Nations.”
The deal combines Bashas’ with a larger portfolio of retail and technology holdings controlled and managed by The Raley’s Companies.
“As promised, we are committed to preserving and enhancing the existing Bashas’ brands, including AJ’s Fine Foods, Bashas’ Diné Market, Bashas’, Food City and Eddie’s Country Store,” said Keith Knopf (left), president and CEO of The Raley’s Companies. “Now part of a larger organization, the increased resources will ensure that reinvestment in stores, new store growth, expansion into new markets, enhanced technology and charitable giving is amplified.”
Knopf added that all hourly Bashas’ team members in eligible roles working in the distribution center and retail locations in Arizona, New Mexico and Tribal Nations will receive a wage increase in early 2022. Bashas’ corporate office will remain in Chandler, Ariz., with continued service from their leadership team.
Trey Basha will serve as the president of the Bashas’ Operating Company. In addition, Michael Basha will oversee distribution and Johnny Basha will support the Native American Tribal Communities, Real Estate, as well as other administrative responsibilities.
The Raley’s Companies now has more than 235 grocery locations . In addition, The Raley’s Companies bridges the divide between the physical and digital retail experience through the operation of its Apium Logistics, Fieldera and FieldTRUE divisions. A new website for The Raley’s Companies is also now live.
Each Operating Company president as well as the enterprise shared services leaders will report to Knopf, who will continue to oversee all long-range planning and strategy for the entire portfolio of companies and will report into the Raley’s Board of Directors.
“The Raley’s Companies organizational structure blends a shared services leadership component, while ensuring dedicated and focused operating company leaders and resources to effectively balance local strategy as well as enterprise-wide objectives,” said Laura Croff, who was recently named chief human resources officer of The Raley’s Companies.
In closing the acquisition, Knopf acknowledged the expert counsel and support provided by The Law Offices of Snell & Wilmer, especially partner Terry Roman, P.C., as well as The Food Partners, which served as strategic and financial advisor to Raley’s.