As the leaves are changing on the trees, so too are the dynamics of retailers nationwide as many of them are changing their strategies when it comes to expansion. This is the case for Albertsons as it recently announced that its ACME Markets division successfully outbid other competitors to acquire 27 Kings Food Market and Balducci’s Food Lover’s Market sites, further expanding Albertsons’ footprint on the East Coast.
“We look forward to welcoming Kings Food Markets and Balducci’s Food Lover’s Markets and the gourmet expertise they are known for into our family,” said Jim Perkins, Mid-Atlantic Division President. “Our company has a history of managing small, differentiated chains that offer an elevated experience, like Andronicos and Haggens in the western U.S. When we leverage their team’s expertise and continue to deliver what their customers want, these stores can thrive. We are excited to add these two premium, gourmet banners to our east coast operations and plan to continue to operate the stores as Kings Food Market and Balducci’s Food Lover’s Market, respectively.”
The transaction, which is still subject to customary regulatory and court approvals including the approval of the Federal Trade Commission, according to the press release, is expected to close later this fiscal year.
Upon the successful completion of the transaction, the stores will become part of the Mid-Atlantic division of Albertsons Companies, which operates ACME and Safeway stores on the East Coast. The winning bid for the package and expected purchase price is $96.4 million.
How will Albertsons’ most recent acquisition change the undercurrents of retail competition? Keep checking in with Deli Market News as we keep our ears to the newswire.