BI-LO and Winn-Dixie Stores have announced that the companies will merge to create an organisation of approximately 690 grocery stores and 63,000 employees in eight states throughout the southeastern US.
Under the agreement, BI-LO will acquire all of the outstanding shares of Winn-Dixie stock in the merger.
“We are very excited about the merger of BI-LO and Winn-Dixie,” said Randall Onstead, chairman of BI-LO, in a company news statement.
“With no overlap in our markets, the combined company will have a perfect geographic fit that will create a stronger platform from which to provide our customers great products at a great value, while continuing to offer exceptional service.
“BI-LO and Winn-Dixie are both strong regional brands with similar heritages, compelling customer connections, and outstanding employees.”
Peter Lynch, chairman, CEO and president of Winn-Dixie added: “By combining BI-LO and Winn-Dixie, we anticipate building a company that is stronger than our individual businesses and creating opportunities for continued advancement through the cross-pollination of our people and the sharing of ideas across our organisations, all to the benefit of our guests, suppliers, team members and the neighbourhoods that Winn-Dixie serves.”
The transaction is currently expected to close in the next 60 to 120 days, subject to the approval of Winn-Dixie shareholders and other customary closing conditions.
Following completion of the merger, it is anticipated that the companies will continue to operate under the BI-LO and Winn-Dixie banners that their customers have come to trust.
BI-LO and Winn-Dixie do not currently expect any store closures as a result of the combination.
The combined company’s executive management team structure and headquarters location will be decided as the companies move closer to finalising the transaction.
However, it is expected that the combined company will maintain a presence in both Greenville and Jacksonville.
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