ACME’s Purchase of Kings, Balducci’s Poised for Court Approval

A bankruptcy judge largely dismissed concerns over a transfer of legal claims that are included in grocery operator KB US Inc.'s plans to sell assets to ACME Markets Inc.for $96.4 million, hinting at his imminent approval of the deal.

The deal is “pretty clearly the best and highest value” bid that bankrupt KB US can receive for the assets—Balducci’s Food Lover’s Market and Kings Food Markets, Judge Sean Lane of the U.S. Bankruptcy Court for the Southern District of New York said during a telephonic court hearing Thursday.

The sale to ACME, a division of Albertsons Companies Inc., has come ...