By Marijke Rowland
Source: The Sacramento Bee
Modesto-born Save Mart Supermarkets has been bought by a Los Angeles-based private equity firm, ending 70 years of Central Valley ownership of the popular grocery chain. The Save Mart Cos. — which includes Save Mart, Lucky California, and FoodMaxx grocery stores — was acquired by Kingswood Capital Management LP. The two companies announced the news Monday morning in a joint statement. Save Mart has locations across the Sacramento area, including in East Sacramento, Elk Grove, Carmichael and more. The company also has FoodMaxx locations in South Natomas and near Burbank High School, according to the store’s website.