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Buyer of Sweetbay grocery chain plans public stock offering

Bi-Lo Holdings, parent company of the Bi-Lo and Winn-Dixie grocery stores and the buyer of Tampa's Sweetbay Supermarket chain, plans to go public with an initial public offering of stock under the name Southeastern Grocers LLC. The company expects to close by early 2014 on its purchase of 155 stores of Sweetbay and other chains from Delhaize Group. Last year, Bi-Lo Holdings reported net income of $103.1 million on sales of $8.6 billion. It currently operates 685 stores in Florida, Georgia, Alabama, Louisiana, Mississippi, South Carolina, North Carolina and Tennessee.

The company, controlled by the Dallas-based Lone Star Funds, a $38 billion private equity firm, could seek to raise up to $500 million in the offering. It will trade under the ticker symbol SEG.

Buyer of Sweetbay grocery chain plans public stock offering 10/01/13 [Last modified: Tuesday, October 1, 2013 8:36pm]
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