Photo via Save Mart

The Save Mart Companies have finalized their second ownership change in as many years, joining The Jim Pattison Group, a Vancouver-based holding company that generates roughly $16 billion in annual sales and represents more than 50,000 employees worldwide.

“This acquisition supports our group’s desire to continue our growth in the retail food business,” The Jim Pattison Group President Ryan Barrington-Foote told the Merced Sun-Star Wednesday.

The Save Mart Companies said their primary focus continues to be to serve customers, associates and local communities.

“Our next chapter is primed for long-term, sustainable growth and innovation and we have full faith in a bright and enduring future,” said The Save Mart Companies in a statement Thursday.

The acquisition comes following a departure from the company’s long-time founding family, the Piccininis; Chris McGarry was named CEO in 2021 prior to the company’s sale to Los Angeles-based Kingswood Capital Management LP.

Current CEO Shane Simpson assumed McGarry’s duties in 2022.

McGarry is no longer with The Save Mart Companies.

Following the acquisition, Executive Chairman of The Save Mart Companies plans to retain Shane Sampson and the rest of the leadership team, with its headquarters to remain in Modesto, and all locations to remain operating as usual throughout the company’s nearly 200 store locations throughout California and Nevada.