Headlines

Save Mart Supermarkets Gobbled by Private Equity

Deal ends 70 years of family ownership

Published

2 years ago

March 30, 2022

VMSD Staff

Save Mart Supermarkets (Modesto, Calif.), a grocery chain with locations throughout California and northern Nevada, has been acquired by Kingswood Capital Management. Terms of the deal were not disclosed.

The Save Mart Companies operate about 200 stores, including the Lucky California and FoodMaxx brands. The company also operates SMART Refrigerated Transport and is a partner in Super Store Industries, which owns and operates a distribution center in Lathrop, Calif., and the Sunnyside Farms dairy processing plant in nearby Turlock.

The Central Valley grocer was founded by brothers-in-law Nick Tocco and Mike Piccinini in 1952. Piccinini’s granddaughter became the CEO in 2016 before Chris McGarry took over the role in 2021.

Kingswood is a Los Angeles-based private equity firm that focuses on the retail sector. This deal expands the firm’s northern California presence following its acquisition of Calif.-based Cost Plus World Market, which it bought from Bed Bath and Beyond in January 2021.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

click to Comment(Comment)

Up Next

FedEx Founder Steps Aside as CEO After 49 Years at the Helm

Don't Miss

Lululemon Hits $6 Billion in Sales for the First Time

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design