Kingswood Capital Management has acquired The Save Mart Companies.
The Save Mart Companies is a California-based grocer that operates SMART Refrigerated Transport and is a partner in Super Store Industries. The firm is committed to sourcing local products across approximately 200 stores. Kingswood is an operationally-focused private equity firm based in Los Angeles, with significant experience in the retail sector.
“At Kingswood, our goal is to make good businesses even better, and The Save Mart Companies presents us with a great opportunity to do so,” said Alex Wolf, founder of Kingswood. “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.”
Kirkland and Ellis served as legal advisor to Kingswood on the transaction. Sheppard Mullin served as legal advisor to the Save Mart Companies, and Solomon Partners and North Point were its financial advisors.