Bashas' Family of Stores — including Bashas', AJ's Fine Foods, and Food City — are now officially part of Raley's Family of Fine Stores, a California-based grocer.
The deal, which was first announced in October, was signed earlier this week, Raley's revealed Wednesday. Details of the deal, such as how much the company was sold for, were not made public.
The Bashas', AJ's Fine Foods, and Food City Brands will remain open under their respective brands in Arizona.
Bashas' corporate office will also remain in Chandler, Raley's said, and will continue to be led by members of the Bashas' family, including Edward "Trey" Basha, Michael Basha, and Johnny Basha, according to a news release.
"As the owner of a multigenerational family business, I, along with my wife, Julie, understand the importance of this responsibility," said Michael Teel, owner & chairman of The Raley’s Companies, in a written statement.
President Keith Knopf said plans for the Arizona stores include reinvesting in the stores, growth, expansions into new markets, enhanced technology, and amplified charitable giving. Employees will also reportedly receive a wage increase in 2022, though details of how much were not announced.
In an interview with ABC15 in October following the merger announcement, Trey Basha said as a result of the pandemic, the company had three options to compete with the larger grocery chains: buy, merge, or sell.
"What we found is that the larger players here in the market, those that had a national footprint, were getting better access to products (during the pandemic). So we knew that we had to buy, sell, or merge, that we had to scale up in order to continue to be relevant to continue to compete."
"And so when we were approached by Raley's, they seemed to be a very good fit, first and foremost, because they were a family company," he said
The Raley's Companies was founded in 1935 and is headquartered in West Sacramento, California. Its brands include Bel Air and Nob Hill Foods.
With the merger, it now has 235 stores in four states, primarily Arizona, California, Nevada, New Mexico, and within Tribal nations.