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ACME Wins Auction for Kings, Balducci With $96.4 Million Bid

Oct. 14, 2020, 7:19 PM

ACME Markets Inc.'s $96.4 million cash bid won an auction for 27 stores owned by the bankrupt parent company of gourmet grocers Balducci’s Food Lover’s Market and Kings Food Markets.

ACME, a division of Albertsons Companies Inc., also plans to assume some of the liabilities held by the grocers’ parent KB US Holdings Inc., including a $25 million underfunded pension fund, KB’s attorney, Vincent Indelicato of Proskauer Rose LLP, told the U.S. Bankruptcy Court for the Southern District of New York Wednesday.

The auction took place Tuesday after investment firm TLI Bedrock LLC made a $75 million stalking horse bid. ...

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