Parent company of Winn-Dixie, Fresco y Mas and other banners launches IPO
Southeastern Grocers Inc. has set terms for its initial public offering.
The parent company of Bi-Lo, Fresco y Más, Harveys Supermarket and Winn-Dixie said selling shareholders are offering 8.9 million shares of its common stock at an anticipated price of $14 to $16 per share, raising up to $142.4 million. Southeastern Grocers isn’t selling any shares in the offering, which could value the Florida-based grocer at up to $694 million, according to MarketWatch.
Southeastern Grocers has applied to list on the New York Stock Exchange under the ticker symbol “SEGR.”
Based in Jacksonville, Fla., Southeastern Grocers has been shifting focus since it exited bankruptcy back in 2018. In June, it announced plans to divest its South Carolina-based Bi-Lo chain.
“The company has made the strategic decision to no longer operate stores under the BI-LO banner to allow for greater investment in growing the Fresco y Más, Harveys Supermarket and Winn-Dixie banners,” stated Southeastern at the time.
As Southeastern continue to sell off Bi-Lo stores, it is expanding its Winn-Dixie banner.