The 27 Kings Food Market and Balducci’s Food Lover’s Market locations will become part of the company’s portfolio.
Acme Markets is a division of Albertsons Cos., it currently operates 164 locations in Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania. The company recently became the winning bidder, with a bid of $96.4M, at a bankruptcy auction for the 27 Kings Food Market and Balducci’s Food Lover’s Markets locations, following parent company KB US Holdings, which operated both grocery chains, entered Chapter 11 bankruptcy last summer.
Once the deal is completed, the acquired stores will become a part of parent company Albertsons Cos., and the company plans to operate the stores under their current respective names.
“We look forward to welcoming Kings Food Markets and Balducci’s Food Lover’s Markets and the gourmet expertise they are known for into our family. Our company has a history of managing small, differentiated chains that offer an elevated experience, like Andronicons and Haggens in the western US. When we leverage their team’s expertise and continue to deliver what their customers want, these stores can thrive.”