New business entity announced to support recent acquisitions
West Sacramento, Calif. – Raley's has announced the completion of the Bashas' acquisition. As previously shared, Raley's had entered into a definitive agreement to purchase all the assets of the Bashas' Company.
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. 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 & Chairman of The Raley's Companies.
Market Expansion Eyed
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 & 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.
Corporate office to remain in Arizona
Knopf further reaffirmed that the Bashas' Corporate Office will remain in Chandler, AZ with continued service from their 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."
The Raley's Companies is a modern, digitally sophisticated retail company born out of proud family legacies and committed to quality offerings, exceptional service and dedicated to serving team members, communities and the planet. With more than 90 years in the grocery business, the company now has more than 235 locations and is a leader in their respective markets. The Raley's Companies bridges the divide between the physical and digital retail experience through the operation of Apium Logistics, Fieldera and FieldTRUE.
When asked about how this larger company will operate, Chief Human Resources Officer, Laura Croff, said, "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."
Operating companies
The Raley's Companies was created to support the operating companies, including Raley's, Bashas' and FieldTRUE.
The Raley's Companies
Led by Keith Knopf, President & CEO. Other leaders include Jen Warner, Administrative Officer; Deirdre Zimmermann, Customer Experience; Laura Croff, Human Resources; 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, President. Other leaders include Johnny Basha, Planning and Real Estate; Michael Basha, Logistics; Steve Mayer, Sales and Merchandising; Ralph Woodward, Operations; Gregg Tucek, General Counsel; and Joe Wisto, Controller.
The Raley's Operating Company
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 full list leaders, visit raleys.com.
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 for the entire portfolio of companies and will report into the Raley's Board of Directors.
Knopf also acknowledges the expert counsel and support provided by The Law Offices of Snell & Wilmer, especially Partner Terry Roman, P.C., in bringing the deal to fruition. Lastly, Knopf recognizes The Food Partners, who served as strategic and financial advisor to Raley's.