KB US Holdings Inc., the parent company of Kings Food Markets and Balducci’s Food Lover’s Markets, has accepted a bid from TLI Bedrock to purchase the company for $75 million. KB has also commenced voluntary Chapter 11 proceedings to help facilitate an orderly sale.
"We are pleased to be moving forward with a sale so we can position Kings and Balducci's for even greater long-term success. During this COVID crisis, our associates and communities have demonstrated not only the viability but absolute necessity of our markets in their communities. Our sales and service have never been stronger; we are confident we will emerge from this process without missing a beat, well-positioned for future stability and success," said Judith Spires, CEO of KB US Holdings, Inc., in a statement.
Related: GrubMarket Acquires Grand Food Inc.; 7-Eleven to Acquire Speedway Stores.
from Industry Operations https://ift.tt/2YsJpKs
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