ARIZONA, USA — Bashas' family grocery stores announced on Friday that the company has signed a definitive agreement to be acquired by Raley's Holding Company based out of California.
Raley's, like Bashas', is a family-owned, independent regional grocer. The acquisition will not change the name, employment or operation of Bashas' stores in Arizona, according to a news release from Bashas'.
“When you walk in it’s like a warm feeling. Like a family type of vibe,” said Sarah Griffin, a Food City shopper. “All the cashiers I know them by their name, they know me, they know what I eat, what I drink."
Bashas' will be a fully formed operating company within the Raley’s enterprise and will maintain its corporate headquarters in Arizona to serve customers in the state, in New Mexico and within the boundaries of tribal partners, the release says.
Before signing the acquisition agreement, Bashas' -- which owns AJ's Fine Foods and Food City -- was the last Arizona-based grocer.
Another Bashas' shopper, Richard Wall is hoping that the company doesn't change under the new ownership.
“Knowing it’s still a Bashas brand that will definitely help and hopefully it doesn’t change but it’s kind of hard to believe it won’t,” said Richard Wall.
Edward "Trey" Basha, president and CEO of the company said:
“Today’s 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.
Customers, members, and local Arizona communities will also benefit from the seamless alignment of culture and values that we share with Raley’s. While the Basha family will no longer have ownership roles, we look forward to seeing the business thrive for generations to come."
Keith Knopf, president and CEO of Raley's Holding Company said:
"Today marks an important milestone in the ongoing legacy of two great companies. 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. We are confident that with our robust digital capabilities and combined purchasing power, we can further enhance the overall customer experience.”
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