The Save Mart Companies BB #:113903, based in Modesto, CA, has been acquired for the second time in two years.
According to The Fresno Bee, The Jim Pattison Group BB #:119039, based in Langley, British Columbia, acquired the California retail chain as of June 25. The sale includes Save Mart’s Lucky and FoodMaxx banners.
Kingswood Capital Management LP acquired Save Mart in the spring of 2022.
The United Food and Commercial Workers’ UFCW 8-Golden State said its members were informed of the acquisition June 25.
“Many of our members have been through this before, most recently with the Kingswood Capital Management acquisition,” the union posted on its website. “They can be assured they have the benefit of solid successor language, guaranteeing the continuation of their benefits and labor contracts. Save Mart has also indicated it intends to continue normal operations and honor the language in our Union contracts.”
Save Mart president Ryan Barrington-Foote told The Bee that the company will remain headquartered in Modesto and continue to run the business with the existing management and employees.
“This acquisition supports our group’s desire to continue our growth in the retail food business,” he told The Bee.
The Save Mart Companies operates about 200 stores in California and Northern Nevada. The company operates stores under the banners of Save Mart, Lucky California, and FoodMaxx. In addition to its retail operation, the company also operates SMART Refrigerated Transport and is a partner in Super Store Industries, which owns and operates a distribution center in Lathrop, CA, and the Sunnyside Farms dairy processing plant in Turlock, CA.
