New York, October 15, 2020— Proskauer, a leading international law firm, announced today that it is representing KB US Holdings in their Chapter 11 cases including the sale process and auction. Kings Food Markets and Balducci's Food Lover's Market will be sold on a going concern basis to ACME Markets, a division of Albertsons Companies, Inc. for an all-cash purchase price of $96.4 million.

KB US Holdings is the parent company of Kings Food Markets and Balducci’s Food Lover’s Market. Both Kings Food Markets and Balducci's Food Lover's Market will continue to serve their communities under their own banners through and after the closing of the sale.

Proskauer’s team was led by partners Vincent Indelicato, Charles A. Dale, Timothy Karcher, (Bankruptcy), Daniel Ganitsky (Mergers & Acquisitions), associate Steve Y. Ma and law clerk Megan Volin (Bankruptcy).  

Proskauer’s Business Solutions, Governance, Restructuring & Bankruptcy practice is broad and we counsel clients on all matters related to distressed situations, corporate governance, insolvency and bankruptcy. We are proud to have some of the finest and most creative restructuring and governance lawyers in the world who have played pivotal roles in a number of the most complex and high-profile distressed matters. We have represented every constituent (debtor, lender, unsecured creditor, board of directors, shareholder, new investor) involved with a business in distress and understand the goals, strategies and tactics of each of the parties.