Malvern, Pennsylvania-based Acme Markets, a division of Albertsons Cos., said Oct. 14 it was the successful bidder for 27 Kings Food Market and Balducci’s Food Lover’s Market locations. The transaction, which is still subject to customary regulatory and court approvals including the approval of the Federal Trade Commission, is expected to close later this fiscal year.
The winning bid for the package and expected purchase price is $96.4 million.
Upon the successful completion of the transaction, the stores will become part of the Mid-Atlantic division of Albertsons Cos., which operates ACME and Safeway stores on the East Coast. Kings Food Market is headquartered in New Jersey; Balducci’s Food Lover’s Market is based in Maryland.
“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,” said Jim Perkins, Mid-Atlantic division president. “Our company has a history of managing small, differentiated chains that offer an elevated experience, like Andronicos and Haggens in the western U.S. When we leverage their team’s expertise and continue to deliver what their customers want, these stores can thrive. We are excited to add these two premium, gourmet banners to our East Coast operations and plan to continue to operate the stores as Kings Food Market and Balducci’s Food Lover’s Market, respectively.”
Albertsons Cos. operates stores across 34 states and the District of Columbia under 20 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs.