The Save Mart Companies Announces Acquisition by Kingswood Capital Management

Today, The Save Mart Companies announced that Kingswood Capital Management LP ("Kingswood") has acquired the company. Kingswood is an operationally-focused private equity firm based in Los Angeles, with significant experience in the retail sector. Terms of the transaction were not disclosed.

Headquartered in Modesto, California, The Save Mart Companies is committed to sourcing a wide variety of local products across approximately 200 stores and serves communities throughout California and Northern Nevada. The company operates stores under the banners of Save Mart, Lucky California, and FoodMaxx. In addition to...

US Foods To Open Pair of CHEF’STORE Locations in California, Virginia

US Foods will open a pair of its US Foods CHEF’STORE locations in Visalia, Calif., and Lynchburg, Va.

CHEF’STORE was described as a “one-stop-shop for restaurant operators, food industry professionals, community groups and at-home chefs to quickly stock up, replenish, or fill in ingredients and supplies in a variety of sizes and offerings” by US Foods.

The new stores will feature a wide-selection of restaurant-quality products at wholesale prices including resh meat, produce, dairy and deli items as well as frozen seafood...

Plant-Based Next Meats From Japan Continues Rapid Growth With California Expansion

Founded in 2017 by entrepreneurs Ryo Shirai and Hideyuki Sasaki to help the world to eat healthier and lessen traditional agriculture's impact on the environment, Next Meats premiered its cutting-edge products, which include the world's first plant-based short rib and skirt steak, in Japan in 2020 after years of research and development.

Japanese specialty market Tokyo Central is the first grocer in California to offer three Next Meats products — Next Short Rib, Next Skirt Steak, and Next Beef Bowl — at six locations in Southern California and...

REPORTER: Hog, Veal, And Egg Producers Brace For The Start of Proposition 12

December 27, 2021

This article was originally featured in the Winter 2022 Edition of Urner Barry's Reporter magazine.

California’s Proposition 12 has generated widespread controversy and pushback among those involved in the egg and meat trades. A state ballot initiative passed by California voters in 2018, the second phase of the law is set to begin on January 1, 2022.

Under the law, veal calf producers are required to provide their animals with at least 43 square feet of usable floor space per calf...

Over $22B Worth of Cargo is Stuck on Container Ships Off California

There was fleeting hope that Southern California port congestion had turned the corner. The number of container ships waiting offshore dipped to the low 60s and high 50s from a record high of 73 on Sept. 19, trans-Pacific spot rates plateaued, the Biden administration unveiled aspirations for 24/7 port ops, and electricity shortages curbed Chinese factory output.

The reality is that the port congestion crisis in Southern California is not getting any better.

The time ships are stuck waiting offshore continues to lengthen...

What Does Prop 12 Mean for Egg, Veal, and Pork Producers in 2022?

Set to begin on January 1, 2022, there has been much pushback and controversy surrounding the State of California’s Proposition 12: The Farm Animal Confinement Initiative, which California residents first voted to pass in 2018.

Under the new rule, veal calf producers are required to provide their animals with at least 43 square feet of usable floor space per calf. Sows must have a minimum of 24 square feet of usable space per animal and laying hens are required to be cage-free. Prop 12 prohibits the sale in California of meat, poultry, and eggs not raised in compliance with these regulations. Many industry participants and producers have voiced concerns that Prop 12 could...