retail news in context, analysis with attitude

Kings Super Markets, Inc. and Balducci’s Food Lover’s Markets announced yesterday that they have been sold to KB Holding, Inc., described as "a Delaware-based investment firm affiliated with GSSG Capital," by Angelo Gordon & Co. and MTN Capital Partners LLC, which acquired Kings in 2006 and Balducci's in 2009.

Terms of the deal were not disclosed.

The announcement says that existing management of the two chains will remain in place, and the the investment is meant to "lay the foundation for expansion now and into the future."

The deal reportedly includes 25 Kings stores and six Balducci's units, as well as several smaller "express" Balducci's locations.
KC's View:
The good news about this is that the deal seems largely like a financial transaction that will have little impact on the good (and hard) work that Kings CEO Judy Spires is doing, bringing back a company that had once been a trend-setter but had fallen into a kind of competitive disrepair under previous ownership. She's really smart and really competitive - the company's owners just have to give her cash and room to maneuver.