Raley's announced the completion of its acquisition of The Bashas' Company, a deal first announced in October, according to Supermarket News.
The Bashas' Company, which operates more than 100 grocery stores in Arizona (and two in New Mexico), will join a newly formed enterprise, The Raley's Companies.
In the article, Michael Teel, owner and chairman of West Sacramento, Calif.-based The Raley's Companies, said, “We're humbled by the opportunity to assume stewardship of the Bashas' legacy,” which operates 124 supermarkets in northern California and Nevada under the Raley's, Bel Air, Nob Hill Foods, and Raley's O-N-E Market banners.
The deal combines Bashas' with a larger portfolio of retail and technology holdings controlled and managed by The Raley's Companies.
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. Full Story
Related: Report: Mergers, Acquisitions to Increase; Grocery Realty Companies Merge.