Canadian Conglomerate Buys Save Mart
Jim Pattison Group recently acquired Modesto, California-based grocery chain Save Mart Cos, reports Business Intelligence for B.C.
The portfolio of Vancouver, Canada-based JPG includes Save-On-Foods, Nesters Market, Choices Markets, Meinhardt, Buy-Low Foods, Urban Fare, Nature's Fare Markets, Quality Foods, Roth's Fresh Market, and PriceSmart Foods banners. It also owns the wine-store chain Everything Wine.
Save Mart operates 194 locations throughout California and Nevada under the Save Mart, Lucky, Lucky California, FoodMaxx, and Maxx Value Food banners.
Shane Sampson, Save Mart’s executive chairman, is expected to work with the JPG team to identify opportunities and help the company perform more efficiently, according to the report.
A spokesperson for Save Mart told The Globe and Mail that the U.S.-based grocer will retain its California headquarters.
The financial details of the transaction were not disclosed. Full Story