Bi-Lo, Winn-Dixie announce completion of merger
JACKSONVILLE, Fla. — Bi-Lo has announced that it has successfully completed its merger with Winn-Dixie Stores. The two banners now will be subsidiaries of privately held parent company Bi-Lo Holding. Bi-Lo and Winn-Dixie will continue to operate under the same banners, and the company does not expect any store closures as a result of the merger.
All Winn-Dixie stockholders will be eligible to receive $9.50 per share in cash for each share of common stock held, for a total purchase price of $560 million.
“With the merger of Bi-Lo and Winn-Dixie now complete, we can begin delivering on this exciting combination for the benefit of our customers, team members and communities,” said Randall Onstead, CEO and president of Bi-Lo Holding. “Together, we are a stronger company that will be focused on meeting and exceeding our customers’ expectations by offering even greater value with the service and shopping experience that they have come to expect.”
The company eventually will be headquartered in Jacksonville, which is centrally located within its eight-state operating area.
On Dec. 19, 2011, Bi-Lo and Winn-Dixie announced that the companies had entered into a definitive agreement under which Bi-Lo would acquire all of the outstanding shares of Winn-Dixie stock at a price of $9.50 per share. As a result of the completion of the merger, Winn-Dixie’s common stock has been delisted from NASDAQ.