Winn-Dixie parent company considering initial public offering

Jacksonville-based Southeastern Grocers filed a draft registration statement with the SEC.


  • By Mark Basch
  • | 6:11 p.m. September 29, 2020
  • | 5 Free Articles Remaining!
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Southeastern Grocers Inc., the parent company of Winn-Dixie and three other supermarket chains, is considering an initial public offering.

The Jacksonville-based company said in a Sept. 28 news release it has confidentially filed a draft registration statement with the Securities and Exchange Commission for a potential IPO.

“This process will help enable the Company to make the decision to become publicly traded, subject to market and other conditions,” the company said.

The shares sold in the IPO would be offered by existing stockholders of the company.

Southeastern Grocers went through a prepackaged Chapter 11 bankruptcy reorganization in 2018, with a group of creditors getting stock in the company in exchange for debt.

The company has not disclosed who received those shares and now owns the company.

The brief news release on the IPO gave no other details.

Southeastern Grocers was formed by the 2012 merger of Jacksonville-based Winn-Dixie Stores Inc. and Bi-Lo Holdings.

The company, then owned by funds managed by Lone Star Funds, filed plans for an IPO in September 2013 but withdrew that registration in August 2014.

Southeastern Grocers operates about 550 supermarkets in seven states under the Winn-Dixie, Bi-Lo, Harveys and Fresco y Mas banners.

However, the company in June announced plans to sell 62 stores and discontinue the Bi-Lo brand.

 

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