A California-based company is buying an iconic Arizona grocery chain.
Late Friday, Bashas’ announced it was selling more than a hundred stores to Raley’s Holding Company. Raley’s is an independent regional grocery with stores in northern California and Nevada.
In a recorded statement, Trey Basha, grandson of the company’s co- founder, said, “This agreement keeps our well-established brands, protects jobs, makes the company more competitive, allows it to accelerate investments in technology and ensures the Bashas’ family of stores can continue to serve customers across Arizona, New Mexico and our tribal nation partners for years to come.”
Raley’s is family-owned and operates 126 stores, including Raley’s, Bel Air Market and Nob Hill Foods.
In a press release, Keith Knopf, president and CEO of Raley’s Holding Company, said the company has a history of respecting the legacy of the brands it acquires. is humbled.
“The Bashas’ company is strong and well-positioned in the market,” he said. “We are confident that with our robust digital capabilities and combined purchasing power, we can further enhance the overall customer experience.”
Bashas’ first store opened more than 90 years ago in Chandler. The company brands also include Food City and AJ’s Fine Foods.
Trey Basha said although Basha family members will no longer have ownership roles, they "look forward to seeing the business thrive for generations to come".
The sale should be final by year’s end. Bashas’ says there are no planned changes to employee roles, compensation or benefits.
Under the agreement, Bashas’ will maintain its corporate headquarters, stores, and distribution center in Arizona.
