Bi-Lo buying 22 Piggly Wiggly stores
Bi-Lo Holdings LLC Thursday announced an agreement to buy 22 supermarkets in South Carolina and Georgia from the Piggly Wiggly Carolina Co. Inc.
Jacksonville-based Bi-Lo, which operates the Winn-Dixie and Bi-Lo supermarket chains, currently has 686 stores in eight Southeastern states. The company also has a deal pending to buy 165 supermarkets under the Sweetbay, Harvey's and Reid's brands from the Delhaize Group.
Piggly Wiggly, headquartered in Keene, N.H., currently has more than 600 stores in 17 states, according to its website. The stores are independently owned and operated by franchisees.
The website lists 12 Piggly Wiggly stores in Florida, all in the Panhandle.
Bi-Lo is buying 16 stores in South Carolina and six in Georgia, which employ a total of 1,200 people.
The deal is expected to be completed in the fourth quarter of this year. Financial terms were not disclosed.
Bi-Lo, which merged with Winn-Dixie Stores Inc. in March 2012, is owned by Dallas-based private equity firm Lone Star Funds.
Reuters news service reported last month that the company is working on an initial public offering and has already hired three investment banks to lead the underwriting group.
Bi-Lo has not commented on that report.