Published Sept. 26, 2013
Southeastern Grocers LLC, parent company of Bi-Lo and Winn-Dixie supermarkets, filed a registration statement today with the U.S. Securities and Exchange Commission to conduct an initial public offering of common stock.
The pricing and number of shares to be offered have not been determined. Proceeds will be used for working capital and to pay down debt, according to the registration statement.
Now headquartered in Jacksonville, Fla. and renamed Southeastern Grocers, Bi-Lo Holdings formerly was based in Mauldin until it acquired Winn-Dixie in a $560 million deal last year.
Since then, the company has been growing. In May, Southeastern Grocers entered into an agreement with Delhaize America LLC to acquire 155 supermarkets under the Sweetbay, Harveys and Reid’s banners. In September, the company entered into an agreement with Piggly Wiggly Carolina Co. Inc. to purchase 21 Piggly Wiggly supermarkets in South Carolina and Georgia for $35 million.
The company, owned by Lone Star Funds, operates 685 stores in Florida, Georgia, Alabama, Louisiana, Mississippi, South Carolina, North Carolina and Tennessee.
Southeastern Grocers reported net income for its 2012 fiscal year of $103.1 million, up from $5.7 million the prior year. Net sales were $8.6 billion, up from $2.8 billion a year ago.
Citigroup, Credit Suisse and Deutsche Bank Securities will act as representatives of the underwriters for the offering, and, with William Blair and Wells Fargo Securities, will act as joint book-running managers for the offering.