k e e p i n g
BUSINESS JOURNAL
b u s i n e s s e s
c o n n e c t e d ™
APRIL 2022
VOLUME 7 ■ ISSUE 4
TABLE OF CONTENTS
GREAT AMERICAN GRILL...... KNIGHT’S LIFE........................ K-9’S ON THE MOVE.............. STRAND ACE HARDWARE..... THE CREATIVE MARKET........ COURTSIDE SPORTS............. CROWS LANDING DEVELOPMENT...................... OPINION.................................. ZIPSER RETIRES.................... BAY VALLEY TECH GRANT.... TURLOCK TOWN CENTER..... ACCOLADES...........................
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209 Business Journal file photo
The Save Mart Companies were recently sold to Kingswood Capital Management LP.
NEW OWNERS FOR SAVE MART COMPANIES BY SABRA STAFFORD 209 Business Journal
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ave Mart Supermarkets, headquartered in Modesto, has been purchased by Kingswood Capital Management LP, an operationally- focused private equity firm based in Los Angeles, with significant experience in the retail sector. The Save Mart Companies operates stores under the banners of Save Mart, Lucky California, and FoodMaxx. In addition to its retail opera-
tion, the company 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. With the addition of The Save Mart Companies, Kingswood is expanding its existing Northern California presence. It already owns Alameda-based Cost Plus World Market, which it acquired in January 2021 from Bed Bath
and Beyond, and Mare Island based Lind Marine, a diversified marine services business headquartered north of the San Francisco Bay, which it recapitalized in January 2022. “I’m excited for this opportunity with Kingswood to invest in and grow The Save Mart Companies family of stores,” said Chris McGarry, CEO of The Save Mart Companies. “The Piccinini family did a tremendous job in fostering a commitment to innovation and service as they built
and grew this company in the Central Valley and throughout California. As a result, we have great stores and a committed team of 14,000 employees who provide fantastic local products and are wonderful stewards of the communities in which they live and work. While this change in ownership will be transparent to our team and customers, we know that this investment will benefit them and the communities SEE SAVE
MART,
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