California company completes purchase of Chandler-based grocer Bashas’
PHOENIX — The purchase of Chandler-based grocer Bashas’ by The Raley’s Companies has been completed, the company announced Wednesday.
The agreement was signed on Oct. 1, with the transition closing earlier this week.
Bashas’ is now combined with a larger portfolio of retail and technology holdings controlled and managed by The Raley’s Companies, but the company said it is committed to preserving and enhancing the existing Bashas’ brands.
Bashas’ brands include Food City, AJ’s Fine Foods, Diné Market and Eddie’s Country Store.
“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,” Keith Knopf, president and CEO of The Raley’s Companies, said in a press release.
The West Sacramento-based, family-owned company also said all hourly 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 early next year.
“We are humbled by the opportunity to assume stewardship of the Basha’s legacy,” Michael Teel, owner and chairman of The Raley’s Companies, said in the release.
“As the owner of a multigenerational family business, I, along with my wife, Julie, understand the importance of this responsibility. 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 company said the Bashas’ corporate office will remain in Chandler, with Trey Basha serving as the president of the Bashas’ Operating Company.