Vancouver Island based Quality Foods has been sold to billionaire businessman Jim Pattison.

Founders John Briuolo and Ken Schley made the announcement Friday evening at the Qualicum Beach Civic Centre with Pattison in attendance.

Pattison said there wouldn’t be any changes and things will continue to operate as usual.

“I would see no reason with the good reputation why anybody would want to change it,” Pattison told NanaimoNewsNOW.

Quality Foods first opened up in Qualicum Beach in 1982 and now has 13 stores across Vancouver Island employing over 1,000 people.

The Jim Pattison Group, who own several grocery chains including Save-On-Foods, first purchased a non-controlling interest in 2012.

The sale brings in capital backing to allow more upgrades and future expansion – which wasn’t possible without new ownership.