Bi-Lo, Winn-Dixie Parent Files for IPO 2013-09-26

JACKSONVILLE, Fla. — The parent company of Bi-Lo and Winn-Dixie has filed for an initial public offering of stock under the name Southeastern Grocers LLC.

The number of shares and price range has not yet been determined.

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Southeastern Grocers, which is in the process of acquiring the Sweetbay and other banners from Delhaize Group, last year had net income of $103.1 million on sales of $8.6 billion, the company said in its prospectus. It currently operates 685 stores in Florida, Georgia, Alabama, Louisiana, Mississippi, South Carolina, North Carolina and Tennessee.

For the 28 weeks that ended July 10, it reported $208 million in net income (including approximately $56.1 million of tax benefits) on $5.6 billion in sales. It also said it has achieved 18 consecutive quarters of positive pro forma comparable store sales growth, and had average pro-forma comps of 3.1% over its last six consecutive quarters.

Citigroup, Credit Suisse and Deutsche Bank Securities will act as representatives of the underwriters for the offering, and, together with William Blair and Wells Fargo Securities, will act as joint book-running managers for the offering.

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