Raley’s has announced the completion of the Bashas’ acquisition. As previously reported, Raley’s had entered into a definitive agreement to purchase all the assets of the Bashas’ Company, including the store located in Fountain Hills. This transaction closed earlier this week. The Bashas’ Company will 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 and chairman of The Raley’s Companies. “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 deal combines Bashas’ with a larger portfolio of retail and technology holdings controlled and managed by The Raley’s Companies. According to Keith Knopf, president and CEO of 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. 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.”
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Bashas' sale finalized
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Raley’s has announced the completion of the Bashas’ acquisition. As previously reported, Raley’s had entered into a definitive agreement to purchase all the assets of the Bashas’ Company, including the store located in Fountain Hills. This transaction closed earlier this week. The Bashas’ Company will 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 and chairman of The Raley’s Companies. “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 deal combines Bashas’ with a larger portfolio of retail and technology holdings controlled and managed by The Raley’s Companies. According to Keith Knopf, president and CEO of 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. 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 announced to the broader organization that 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 in early 2022.
Knopf further reaffirmed that the Bashas’ Corporate Office will remain in Chandler, with continued service from their leadership team.
“I am pleased to share Trey Basha will serve as the president of the Bashas’ Operating Company,” Knopf said. “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.”
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