Save Mart acquired by Canadian conglomerate Jim Pattison Group
The Save Mart Companies has been acquired for the second time in two years.
The 194-store grocery operator has been acquired by The Jim Pattison Group, a Canadian conglomerate based in Vancouver, B.C. Shane Sampson, executive chairman of Save Mart, will remain with the company, along with the rest of the senior leadership team, reported Canadian Grocer.
In 2022, Save Mart was acquired by Los Angeles-based private equity firm Kingswood Capital Management.
“Many of our members have been through this before, most recently with the Kingswood Capital Management acquisition,” United Food and Commercial Workers (UFCW) Local 8-Golden State, which represents 6,000 union workers at Save Mart, stated in a release. “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.”
The Jim Pattison Group is a diversified holding company operating in the United States and Canada. The Pattison Food Group division of the company is one of the largest grocery wholesalers in Canada. It also operates several retail banners in Canada, including Save-On Foods, Quality Foods, Urban Fare, Choices Markets and others.
In 2021, the Food Group made its first acquisition outside a Canada when it acquired Roth’s Fresh Markets, based in Salem, Ore.
Based in Modesto, Calif., Save Mart operates 185 stores in California and nine in Nevada. The company operates stores under the banners of Save Mart and Lucky Supermarkets as well as FoodMaxx, a warehouse-style discount store concept.
In addition to its retail operation, Save Mart also operates Smart Refrigerated Transport and is a partner in Super Store Industries, which owns and operates a distribution center in Lathrop, Calif., and the Sunnyside Farms dairy processing plant in Turlock, Calif.