Source: Modesto Bee
Despite its proximity to Silicon Valley, Modesto doesn’t get to be on the leading edge of many technological trends. But in 2020, Save Mart Supermarkets launched new grocery delivery robots, making it the first retailer in the nation to use the technology. Now, as new ownership takes over the venerable Central Valley grocery brand, its leaders have pledged to keep innovating in and for Modesto. Last week The Save Mart Companies was acquired by Long Angeles-based private equity firm Kingswood Capital Management LP, ending 70 years of family ownership. This week the new ownership installed longtime Albertsons executive Shane Sampson as its board’s executive chairman. CEO Chris McGarry, who is a year into his tenure as the first non-family member to hold the position, said bringing him on board signals Kingswood’s commitment to innovation and the valley.