February 26, 2016

Southeastern Grocers Files IPO

Southeastern Grocers has filed to raise up to $500 million in an initial public offering. Southeastern Grocers is the parent company of Bi-Lo and Winn-Dixie. The companies mergedlast year. Southeastern Grocers is also acquiring the Sweetbay and other banners from Delhaize Group. Last year, Southeastern Grocers had net income of $103 million on sales of $8.6 billion, according to company officials. The company operates 685 stores acrossFlorida, Georgia, Alabama, Louisiana, Mississippi, South Carolina, North Carolina and Tennessee.


Southeastern reported $208 million in net income, including roughly $56 million of tax benefits, on $5.6 billion in sales during a 28-week period that ended on July 10.


Citigroup, Credit Suisse and Deutsche Bank Securities will serve as representatives of the underwriters for the offering. They will partner with William Blair and Wells Fargo Securities, to work as joint book-running managers for the offering.

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