Kingswood Capital Management, a private equity firm based in Los Angeles, has acquired The Save Mart Cos., which operates 200 stores across California and Northern Nevada under the banners of Save Mart, Lucky California, and FoodMaxx.
Among its retail holdings, Kingswood owns Cost Plus World Market, which it acquired in January 2021 from Bed Bath and Beyond.
Headquartered in Modesto, CA, Save Mart also operates Smart Refrigerated Transport and is a partner in Super Store Industries, which owns and operates a distribution center in Lathrop, and the Sunnyside Farms dairy processing plant in Turlock.
“At Kingswood, our goal is to make good businesses even better, and The Save Mart Cos. presents us with a great opportunity to do so,” said Alex Wolf, Kingswood, managing partner and founder. “Their 70 years of history in the Central Valley provides a strong foundation for future profitable growth, and we look forward to working with Chris and the team to position these iconic grocery brands for the future.”
