Save Mart store chain is sold. What does that mean for namesake arena at Fresno State?

The Save Mart Center likely will retain its name, despite the sale of the namesake grocery store chain.

The naming rights deal for Fresno State and its venue for its basketball and volleyball programs is with the Pepsi Bottling Co., which formed a partnership with Save Mart that included naming rights for the arena off Shaw Avenue at the east end of campus that seats up to 18,000, including 15,596 for basketball and 3,333 for volleyball.

The agreement does allow for one name change during a 23-year partnership that runs through 2026, according to Fresno State Vice President of Administration Debbie Adishian-Astone, who as executive director of auxiliary services oversees the Save Mart Center.

But Save Mart, which operates 204 Save Mart, Lucky California and FoodMaxx stores, is expected to continue to operate the business as usual without name changes following the sale to Kingswood Capital Management LP.

“At Kingswood, our goal is to make good businesses even better, and The Save Mart Companies presents us with a great opportunity to do so,” Kingswood founder Alex Wolf said in a written statement announcing the sale.

“Their 70 years of history in the Central Valley provides a strong foundation for future profitable growth, and we look forward to working with (Save Mart CEO Chris McGarry) and the team to position these iconic grocery brands for the future.”

The naming rights agreement between Fresno State and Pepsi, which is worth $40 million, was a critical piece to financing construction of the arena and remains one of the largest collegiate naming rights deals in the nation.

Fresno State last August also added a naming rights deal for Bulldog Stadium with Valley Children’s Healthcare that is worth $10 million over 10 years, one of the top deals for a football venue in the Mountain West Conference.

Colorado State has a 15-year deal worth $37.7 million with Public Service Credit Union, which later became Canvas Credit Union. The Rams’ new on-campus stadium is Canvas Stadium.

Boise State has a 15-year, $12.5 million contract with Albertson’s, San Jose State has a 15-year, $8 million contract with Citizens Equity First Credit Union and Utah State has an 18-year, $6.3 million contract with the gas station and convenience store chain Maverik.