Dangelo Thomas, 25, was arrested Wednesday for robbery, being a felon in possession of a firearm and a parole violation, according to the Los Angeles County Sheriffs' Department.
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This comes two weeks after 21-year-old Demoryie Watts was also arrested in connection to the crime.
The robbery occurred on July 9 in the parking lot of the market, as a man and woman were loading items into their car after shopping. The suspects, both of them armed, attacked the couple and took the man's Rolex watch, the sheriff's department reported.
The daytime attack was captured on video, and authorities credit the footage to helping them in their investigation.
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Personnel from the sheriff's department served warrants in Long Beach and Victorville early Wednesday morning and arrested Thomas at a residence in the 300 block of Lime Avenue in Long Beach, according to the sheriff's department.
Authorities say they recovered a loaded .45 caliber handgun and a loaded 9mm handgun.
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There's no word if the Rolex watch was found.
The sheriff's department said Thomas was on parole for a prior gang-related offense involving firearms at the time of the robbery.
He's currently being held without bond.
Southern California has seen a surge in jewelry-focused robberies, with thieves targeting people with Rolex watches or other expensive items at public places.
City News Service, Inc. contributed to this report.