Best Buy Market, which operates three locations in California, has been sold to SaveCo, which operates 16 State Foods Supermarkets in the Central Valley of California.
According to Mike Alamsi, SaveCo president and CEO, the stores transition to Best Buy Market by SaveCo in 2020 before being rebannered as SaveCo in 2021. The stores will also undergo remodels to increase energy efficiency. The stores will not close during the transition and will continue to buy from local suppliers as well as retain current employees, according to a local news report.
Skip Nugent opened his first store in 1999 in Hanford, Calif., under a different name before purchasing Best Buy Market in Visalia in 2002 and renaming his first store. He expanded to a third location in 2006. The stores were large supporters of the foundation Happy Hearts, which Nugent started after his daughter was killed in a car accident just shy of her 18th birthday and benefitted Valley Children’s Healthcare.
The foundation has donated $1.6 million to the hospital since its founding in 2003. SaveCo plans to continue to support fundraising for the foundation and expand it to all of its locations.
Sanger, Calif.-based SaveCo has been on a buying spree for the past several years, growing from nine stores in 2017 to 16 plus the three Best Buy Markets.