Save Mart Acquired by Jim Pattison Group, Retains Current Management

The Jim Pattison Group, a prominent Canadian conglomerate with extensive business operations in Canada and the U.S., has expanded its reach by acquiring Save Mart Companies from private equity firm Kingswood Capital Management, which had owned the retailer since 2022.

Founded in 1952 by Nick Tocco and Mike Piccinini, Save Mart was the largest family-owned grocer in California before its acquisition by Kingswood Capital Management. The Jim Pattison Group’s latest move marks a significant step in its expansion strategy within the U.S. grocery market.

The Pattison Food Group, a division of the Jim Pattison Group based in Vancouver, British Columbia, is a major grocery wholesaler in Canada, serving over 2,000 independent retailers. It also operates several retail banners, including Save-On Foods, Quality Foods, and Choices Markets, making it one of the largest food retailers in Western Canada.

In 2021, the Pattison Food Group made its initial foray into the U.S. market by acquiring Roth’s Fresh Markets, a nine-store chain based in Salem, Oregon. This acquisition marked the beginning of its expansion into the U.S., and the addition of Save Mart, located about 380 miles south of Roth’s Fresh Markets, further solidifies its presence in the American grocery sector.

Save Mart, headquartered in Modesto, California, operates nearly 200 supermarkets under the Save Mart, Lucky, FoodMaxx, and Maxx Value banners across California and Nevada. As part of the acquisition, the current management team, including Executive Chairman Shane Sampson, will remain in place, ensuring continuity in leadership and operations. However, detailed information about the acquisition has yet to be disclosed, and representatives from the Jim Pattison Group have not provided comments at this time.

This acquisition also encompasses Save Mart’s Yosemite Wholesale and Save Mart office divisions. The United Food and Commercial Workers Local 8-Golden State, which represents 6,000 union workers at Save Mart, confirmed that the retailer plans to continue normal operations post-acquisition.