Acme Supermarket Chain Posts $96.4M Bid For KB Markets

Law360 (October 15, 2020, 6:25 PM EDT) -- KB US Holdings has told a New York bankruptcy court that grocery chain Acme Markets has won the auction for its Kings Food and Balducci's supermarkets with a $96.4 million bid.

In a notice filed with the court Wednesday, KB said Acme had beaten New York-based venture capital firm TLI Bedrock LLC's $75 million stalking horse bid at an auction conducted Tuesday with an offer for what Acme's parent company said was 27 of KB's 35 stores.

Acme parent Albertsons Companies said in an announcement Wednesday that if the sale receives court and Federal Trade Commission approval, the stores would become...

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