Acme Markets, a subsidiary of Albertson’s Company will acquire 27 King Foods Markets and Balducci’s Food Lover’s Markets from KBUS Holdings in a $96 million transaction.

On completion of the acquisition of the stores that are in Chapter 11 Bankruptcy, Albertson’s will retain banners and incorporate the new stores into the mid-Atlantic Division.

Jim Perkins, Division president for the Albertson’s region stated, “We look forward to welcoming King Foods Markets and Balducci’s Food Lover’s Markets into our family.”  He added, “Our company has a history of managing small differentiated chains that offer an elevated experience.”

King’s operates 25 specialty gourmet supermarkets in New Jersey, New York and Connecticut.  The Balducci chain has nine stores in New York, Connecticut, Maryland and Virginia. Albertson’s operates 2,252 retail stores, 1,726 pharmacies and 402 fuel centers in 34 states and the District of Columbia and is currently the second-largest U.S. supermarket chain.