Raley’s Completes Purchase of the Bashas’ Company; Michael Teel, Keith Knopf, and Laura Croff Comment
SACRAMENTO, CA - We reported back in early October that Raley’s had entered a definitive agreement to acquire all assets of the Bashas’ Company. The two officially finalized their transaction earlier this week as Raley’s announced its newly formed enterprise, The Raley’s Companies.
“We are humbled by the opportunity to assume stewardship of the Bashas’ legacy. 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,” said Michael Teel, Owner and Chairman of The Raley’s Companies.
In tandem with this announcement, Keith Knopf, President and Chief Executive Officer of The Raley’s Companies, revealed that all eligible hourly team members working in the distribution center and retail locations in Arizona, New Mexico, and Tribal Nations will receive a wage increase in early 2022.
“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,” said Knopf. “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 also reaffirmed that the Bashas’ Corporate Office will remain in Chandler, AZ, with continued service from the chain’s leadership team.
“I am pleased to share Trey Basha will serve as the President of the Bashas’ Operating Company. 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,” Knopf stated.
A press release outlined that the deal will combine Bashas’ with a larger portfolio of retail and technology holdings which are controlled and managed by The Raley’s Companies. Focused on quality, service, community, and the planet, The Raley’s Companies maintains its founding family legacies as it continues to elevate its digital sophistication. The more than 90-year business now has more than 235 locations and bridges the divide between the physical and digital experience through Apium Logistics, Fieldera, and FieldTRUE.
“The Raley’s Companies organizational structure blends a shared services leadership component, while ensuring dedicated and focused operating company leaders and resources to effectively balance local strategy as well as enterprise-wide objectives,” Chief Human Resources Officer, Laura Croff, said.
The Raley’s Companies enterprise is represented like so:
- The Raley’s Companies: Led by Keith Knopf. Other leaders include Jen Warner, Administrative Officer; Deirdre Zimmermann, Customer Experience; Laura Croff; Ken Mueller, Financial Officer; Craig Benson, Information Technology; Chelsea Minor, Public Relations & Government Affairs; and Helen Singmaster, General Counsel
- The Bashas’ Operating Company: Led by Edward “Trey” Basha III. Other leaders include Johnny Basha; Michael Basha; Steve Mayer, Sales and Merchandising; Ralph Woodward, Operations; Gregg Tucek, General Counsel; and Joe Wisto, Controller
- The Raley’s Operating Company: The Raley’s President will be announced in January 2022. Other leaders include Paul Gianetto, Sales and Merchandising; Levi Wingo, Operations; Angela Mills-Dixon, Human Resources; and Lisa Inselman, Controller
For a full list of leaders, please click here.
Each Operating Company President as well as the enterprise shared services leaders will report to Knopf, who will continue to oversee all long-range planning and strategy and will report to the Raley’s Board of Directors. The Law Offices of Snell & Wilmer, especially Partner Terry Roman, P.C., helped bring the deal to fruition; and The Food Partners served as strategic and financial advisor to Raley’s.
So, what’s next for the retail chain? Keep a tab open for ANUK, and you won’t miss a beat.