The Save Mart Companies, a Modesto, California-based grocer operating in the state and neighboring western Nevada, has been acquired by the Jim Pattison Group.
The two parties have yet to publicly share details about the deal. But according to the UFCW 8-Golden State union, which was informed of the move, The Save Mart Companies “intends to continue normal operations.”
The Save Mart Companies was acquired from private equity firm Kingswood Capital Management, which had owned the company since 2022.
[RELATED: Kingswood Capital Management Acquires The Save Mart Companies]
According to its website, the Jim Pattison Group is a diversified holding company operating in the U.S. and Canada. It is made up of a number of diverse operating divisions, which span the automotive, advertising, media, agricultural equipment, food and beverage, entertainment, exporting, financial, real estate and periodical distribution industries.
The Save Mart Companies sources a variety of local products across about 200 stores under the banners of Save Mart, Lucky California and FoodMaxx.
In addition to its retail side, the company also operates Smart Refrigerated Transport and is a partner in Super Store Industries, which has a distribution center and a Sunnyside Farms dairy processing plant in Turlock, California.
