Winn-Dixie's sale to Bi-Lo the culmination of nearly a year of bids that went unaccepted; Winn-Dixie decided to sell when projections showed the company remaining unprofitable for one to three more years

Yohana Valdez

Yohana Valdez

Feb 6, 2012 – Industry Intelligence

LOS ANGELES , February 5, 2012 () – After nearly a year of making bids that went unaccepted, Jacksonville-based Bi-Lo supermarket chain last month signed a deal to buy Jacksonville-based Winn-Dixie Stores Inc. at US$9.50 a share, Tampa Bay Times reported Jan. 31.

At one point, the offers reached $10.50 a share, however talks halted last November when the company’s stock priced dropped to $6.39. Winn-Dixie’s board decided to sell when projections showed the company remaining unprofitable for one to three more years.

Greenville, South Carolina-based Bi-Lo will continue to operate Winn-Dixie’s 484 southeastern states under a separate brand after the sale closes March 31. The sale is pending approval by Winn-Dixie shareholders.

Winn Dixie CEO Peter Lynch will leave with $8 million in stock and options and could make another $1.5 million serving as a post-sale consultant.

The primary source of this article is Tampa Bay Times, Tampa, Florida, Jan. 31, 2011.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.