WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--Raley’s announced plans to purchase six Scolari's Food and Drug locations in Northern Nevada. As a third-generation family-owned grocery operator, Raley’s is prepared to assume operations of the purchased Scolari’s stores, which will be transferred to the Raley’s banner. Under the terms of the agreement, Raley’s will purchase five locations of Scolari's Food and Drug and one Sak ‘N Save.
“I am pleased that Raley’s will reach and serve even more customers. Making healthy and affordable food available to more people aligns with our purpose to infuse life with health and happiness, by changing the way the world eats, one plate at a time,” said Michael Teel, Raley’s Chairman & CEO.
Raley’s has a strong history operating grocery stores in Nevada. Raley’s has been a community supporter since 1959. The company currently operates eleven Raley’s locations, one Food Source and two Aisle One fuel stations in Nevada.
“The network of Scolari’s stores offers great synergies in a market we already operate,” said Raley’s CFO Ken Mueller.
“We expect to build on the existing customer base by offering even more products and categories at a price that is affordable. The Raley’s team will actively listen to customers, and we look forward to learning what the customers want and need from us,” said Keith Knopf, Raley’s President. “We take seriously the stewardship passed to us by the Scolari’s family and will work to preserve the positive impact they have created.”
Raley’s will transition five Scolari’s locations to the Raley’s banner, and the Sak ‘N Save will keep its name and operate as part of the Food Source division of Raley’s. The transition is expected to be completed by late spring, 2018.
More details of the purchase will be available at a later date.
“With complementary markets and strong family values, we believe Raley’s was the right partner to assume the operation of the six locations of our family business,” said Joey Scolari, Chief Executive Officer, Scolari’s Food & Drug. “We are confident our customers and employees will be served well under the stewardship of the Raley’s organization.”
The Scolari’s family will continue to operate and serve its customers in Sparks and Sun Valley. The Food Partners represented Scolari’s in its evaluation of strategic alternatives including as its financial advisor in the sale to Raley’s.
List of store locations to be transferred to Raley’s:
- Scolari’s Food & Drug: 3310 South McCarran Boulevard, Reno, NV
- Scolari’s Food & Drug: 4788 Caughlin Parkway, Reno, NV
- Scolari’s Food & Drug: 1400 US Highway 95A North, Fernley, NV
- Scolari’s Food & Drug: 176 West Goldfield Avenue, Yerington, NV
- Scolari’s Food & Drug: Hwy 95 – Air Force Road, Tonopah, NV
- Sak ‘N Save: 1901 Silverada Boulevard, Reno, NV
In the 1990s, Raley’s purchased two other family-owned grocery brands, Nob Hill Foods in the Bay Area and Bel Air Markets in the Sacramento region. The company currently operates 122 stores under four banners. The additional stores will increase the total store count to 128.