Chandler-based grocer Bashas’ to be acquired by California company
PHOENIX — Chandler-based Bashas’ announced Friday that it had signed as agreement to be acquired by Raley’s Holding Company, a grocer from California.
All Arizona store banners, employment and operations will continue without change or interruption, Edward “Trey” Basha, president and CEO of Bashas’, and Keith Knopf, president and CEO of Raley’s Holding Company, said in a joint video presentation on Friday to Bashas’ workers.
The Basha family will forfeit ownership roles as part of the agreement.
The transaction, expected to close by the end of 2021, guarantees the continuation of Bashas’ store service across Arizona and New Mexico while allowing Bashas’ to be a fully formed operating company within Raley’s enterprise.
Its corporate headquarters, distribution center and stores will also remain in Arizona.
Bashas’ brands also include Food City and AJ’s Fine Foods.
“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,” Knopf said in the release.
Basha, the grandson of the company’s co-founder said that 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,” Basha said.