Raley's Holding Company Enters Definitive Agreement to Acquire Bashas' Family of Stores; Keith Knopf and Edward "Trey" Basha Discuss
CHANDLER, AZ & SACRAMENTO, CA - As big supporters of the Northern California local Raley’s Holding Company, when we heard the news that Bashas’ Family of Stores revealed it had signed a definitive agreement to be acquired by the company, we could not have been more excited. Expected to close by the end of the year, Bashas’ will operate within the Raley’s Holding Company and its store banners, employment, and operations across Arizona will continue without change or interruption.
“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,” said Keith Knopf, President and Chief Executive Officer of Raley’s Holding Company. “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.”
According to a press release, the agreement brings together two leading grocers with rich legacies and shared values. These tenets include employee achievement, exceptional customer service, and a deep commitment to local communities.
The Food Partners served as strategic and financial advisor to Raley’s in this transaction, and Snell & Wilmer served as legal counsel to Raley’s, the press release added, further detailing that Citi served as a strategic and financial advisor, and Burch & Cracchiolo, P.A. served as lead legal counsel for Bashas’.
The price of the transaction has not been publicly revealed.
“Today’s announcement represents the beginning of Bashas’ next, exciting chapter as a fully formed operating company within the larger Raley’s enterprise," Edward “Trey” Basha, President and Chief Executive Officer of Bashas’ Family of Stores, expressed. "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.”
As a highlight of the deal, 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.
A huge congrats to Raley’s and Bashas’ on the amazing new move on the retail front! Keep checking back with AndNowUKnow as we bring the latest and greatest across the buy-side space and beyond.