Kingswood Capital Management Acquires The Save Mart Companies

Los Angeles-based private equity firm Kingswood Capital Management has acquired The Save Mart Companies, a Modesto, California-based grocery operator that runs approximately 200 stores under the Save Mart, Lucky California and FoodMaxx banners. The Piccinini family will exit ownership and Kingswood said the acquisition expands its Northern California retail presence; terms were not disclosed.