BI-LO completes merger
with Winn-Dixie Stores
Mar 12, 2012 10:38 AM
BI-LO LLC has successfully completed its merger with Winn-Dixie Stores Inc after approval of the transaction by Winn-Dixie shareholders March 9, 2012. All Winn-Dixie stockholders will be eligible to receive $9.50 per share in cash for each share of common stock held, for a total purchase price of $560 million.
As a result of the merger, BI-LO and Winn-Dixie are now subsidiaries of the privately held parent company, BI-LO Holding. This company is the ninth-largest supermarket chain in the United States with 688 grocery stores and 63,000 team members in eight states throughout the Southeast. BI-LO and Winn-Dixie will continue to operate under the same banners. The company does not expect any store closures as a result of this combination.
The firm will eventually be headquartered in Jacksonville FL, which is centrally located within its eight-state operating area. While both companies enjoy a strong heritage of support from their local communities, the Jacksonville-based infrastructure is best positioned to host the combined BI-LO and Winn-Dixie support center, corporate office, and distribution facilities. At the same time, the company plans to maintain a strong regional presence in Greenville SC both in regard to distribution and local store support needs.
On December 19, 2011, BI-LO and Winn-Dixie announced that the companies had entered into a definitive agreement under which BI-LO would acquire all of the outstanding shares of Winn-Dixie stock at a price of $9.50 per share. As a result of the completion of the merger, Winn-Dixie’s common stock has been delisted from NASDAQ.
© 2013 Penton Media Inc.
Acceptable Use Policy blog comments powered by Disqus