Raley’s yesterday announced the completion of its acquisition of Bashas', in the process creating a new entity, The Raley’s Companies, which combines Bashas’ with its larger portfolio of retail and technology holdings.
Keith Knopf, President & CEO of The Raley’s Companies, said that “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.”
Raley's also confirmed that Bashas’ Corporate Office will remain in Chandler, AZ with continued service from their leadership team, including Trey Basha as President of the Bashas’ Operating Company, Michael Basha overseeing distribution, and Johnny Basha supporting the Native American Tribal Communities, Real Estate, as well as other administrative responsibilities.
- KC's View:
A harbinger of a future in which independent and regional companies look for alliances and mergers that will give them a better ability to survive. We can expect only more of these deals, hopefully as companies find fellow travelers that can extend and enrich their journeys, as opposed to falling into the clutches of investment bankers who prioritize short-term financial gains over long-term dedication to community.