KB Holding Acquires Kings Super Markets and Balducci's Food Lover's Markets

KB Holding has acquired Kings Super Markets and Balducci's Food Lover's Markets. Castle Harlan, the New York private equity investment firm, initiated and spearheaded the acquisition for the Delaware-based investment firm affiliated with GSSG Capital, a global diversified private holding company with offices located in New York, Europe and the Middle East. Kings and Balducci's were acquired from Angelo, Gordon & Co., and MTN Capital Partners. Terms of the transaction were not disclosed. 

Castle Harlan identified the potential transaction in a proprietary manner and approached Angelo, Gordon and MTN about selling the company. Castle Harlan subsequently selected GSSG Capital as the most appropriate source of equity for the acquisition. Castle Harlan is an active investment manager, pursuing selected private equity acquisitions and controlling investments, together with a few large families and family offices, both US and foreign.

"This reflects Castle Harlan's continued activities in identifying and completing unique private equity transactions with market-leading companies," says Marcel Fournier, the senior managing director who led the transaction at Castle Harlan alongside Eric Schwartz, managing director 

"Kings and Balducci's are two long-established and well-recognized brands in high-end food retailing with, we believe, an outstanding potential for expansion, and we are pleased to see  this transaction reach its successful conclusion," adds Schwartz.