Just weeks after the opening of the newest supermarket in town, the oldest will be sold to a California-based independent grocer.
Bashas’ Family of Stores announced Friday it had signed a definitive agreement to be acquired by Raley’s Holding Co., but Maricopa shoppers and company employees may not see many changes.
In a joint video presentation, Edward “Trey” Basha, president and chief executive officer of Chandler-based Bashas’, and Keith Knopf, Raley’s president and chief executive officer of Raley’s, indicated there would be no changes in store for the store’s banners, employment and operations across Arizona.
“Today’s announcement represents the beginning of Bashas’ next, exciting chapter as a fully formed operating company within the larger Raley’s enterprise,” said Trey Basha. “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 continued. “While the Basha family will no longer have ownership roles, we look forward to seeing the business thrive for generations to come.”
“Today marks an important milestone in the ongoing legacy of two great companies,” added Knopf. “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.
“The Bashas’ company is strong and well-positioned in the market,” he added. “We are confident that with our robust digital capabilities and combined purchasing power, we can further enhance the overall customer experience.”
According to a news release, the agreement states:
• Bashas’ will continue to serve customers across Arizona and New Mexico and its Tribal Nation Partners, including the Navajo Nation, White Mountain Apache, San Carlos Apache, and Tohono O’odham.
• 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 as a result of the transaction.
The transaction is expected to close by the end of the year.
Raley’s, based in West Sacramento, California, began with one store opened by Tom P. Raley in 1935 in Placerville, California. His daughter, Joyce Raley Teel, took over in 1991 after her father’s death. Six years ago, the third generation of family ownership came on board, with Michael Teel, Tom Raley’s grandson, leading the chain as CEO and chairman of the board.
Today, Raley’s owns and operates 126 grocery stories.
Basha’s, the first supermarket in Maricopa, welcomed shoppers in June 2004 to its John Wayne Parkway store, a much-anticipated opening that gave other businesses more confidence to open in the city.