Jax will have one less F500 company...
QuoteThe Jacksonville-based supermarket chain Winn-Dixie is being sold for $560 million to Bi-Lo LLC, the companies said Monday, creating a large grocery operator in the South.
The combined company will have about 690 stores and 63,000 workers in eight states in the southern U.S. Winn-Dixie Stores Inc. will become a privately held subsidiary and its ticker will be removed from the Nasdaq.
full article: http://jacksonville.com/business/2011-12-19/story/chattanooga-newspaper-reports-bi-lo-buy-jacksonville-based-winn-dixie
Sounds like the Winn Dixie name will stay on the stores but who knows for how long.
That SUCKS. I really thought Winn-Dixie would turn it around. Although honestly I can't believe they're really worth over $500 million at this point.
QuoteAbout BI-LO
Founded in 1961 and headquartered in Greenville, S.C., BI-LO operates 207 supermarkets, including approximately 116 in-store pharmacies, in North Carolina, South Carolina, Georgia and Tennessee. The Company employs approximately 17,000 people.
About Winn-Dixie
Founded in 1925 and headquartered in Jacksonville, FL, Winn-Dixie operates approximately 480 retail grocery locations, including approximately 380 in-store pharmacies, in Florida, Alabama, Louisiana, Georgia and Mississippi. The Company employs approximately 46,000 people.
http://www.marketwatch.com/story/bi-lo-and-winn-dixie-agree-to-merge-2011-12-19
Just from looking at that it seems like WD should be buying Bi-Lo :o
Pretty decent sales price. Almost double the current Market Cap. It's a good day to be holding some Winn Dixie stock.
I'm mostly angry that we lose a F500.
Will the stores change in any way? I know they were in the process of updating their stores.
Maybe a good day to hold the 'new stock'. If you worked for WD prior to the bankruptcy, you were pretty much screwed. Interesting to see a significantly smaller company be successful, and able to buy a bigger company. Seems like a lot of baggage, but they might be able to keep it going in the right direction.
This just sucks. We lose our FF 500 company and freaking Greenville, SC gains one. Wonder how many WD stores they will close?
I hope they continue to support the Jaguars and other Jacksonville area charities and events.
oh and I hope they do not do away with fuelperks. that is the only reason I go to WD.
^^^Looks like they are gonna still keep the fuelperks program. According to wiki, the existing W/D stores will still operate under the W/D name. This sounds like a similar situation to that of Inbev buying Anheuser Busch. I'm still extremely pissed that Jax is losing a F500
http://en.wikipedia.org/wiki/BI-LO_%28United_States%29
Well that just ruined my day >:(
I know a couple folks who work in their corporate headquarters and are a little nervous about how this will all shake out. Will they keep Winn-Dixie separate, with its own headquarters and everything? Will layoffs be coming?
It doesn't sound like they have any store closings planned which is good. But still, disconcerting news for all those corporate employees. Good luck to them.
QuoteJax will have one less F500 company...
Says who? The article I saw from the Business Journal stated that the decision of the HQ would be made after the 2 companies settle the accounts in order. Now is the time for Super Alvin Brown to leap from the tall building known as Everbank Center, and land at 5050 Edgewood Court, for a serious discussion with Peter Lynch.
Seriously, if Brown can, he will do everything in his power to keep the HQ of the company here in Jax. Hey, we were able to merge Atlantic Coastal Lines and Seaboard Coastline and create CSX, we can do this here too.
Maybe a new name, Winn Lo? or Bi Dixie?
Quote from: fsujax on December 19, 2011, 10:29:34 AM
oh and I hope they do not do away with fuelperks. that is the only reason I go to WD.
really? convenience, pricing, and community pride has nothing to do with it
ok, maybe community pride. and Stephen I do like their wing bar!
Quote from: mtraininjax on December 19, 2011, 02:21:44 PM
QuoteJax will have one less F500 company...
Says who? The article I saw from the Business Journal stated that the decision of the HQ would be made after the 2 companies settle the accounts in order. Now is the time for Super Alvin Brown to leap from the tall building known as Everbank Center, and land at 5050 Edgewood Court, for a serious discussion with Peter Lynch.
Seriously, if Brown can, he will do everything in his power to keep the HQ of the company here in Jax. Hey, we were able to merge Atlantic Coastal Lines and Seaboard Coastline and create CSX, we can do this here too.
Maybe a new name, Winn Lo? or Bi Dixie?
'Bi-Dixie' ?!?! Will their new logo be a confederate flag in rainbow colors? That should go over well in the south.
(yes, this was meant as a joke, a poor and tasteless one, but a joke)
^^^LMAO!!!
There is a really good article about BiLo on one of the Greenville sites, can't remember which, but it stated that BiLo had only 17,000 employees. In fact, they are privately owned by a Dallas Private Equity Firm. They declared bankruptcy a few times since 2000. They even have a Fuel Perks program, looking very much like WDs.
In the end, the "merger" would create 63,000 employees. BiLo's revenue was half that of Winn Dixie, so somebody paid heavily for the merger. In fact, BiLo had made overtures to Publix and Kroger, so that may be the reason for the window dressing.
Even if Kroger or Publix wanted this new "chain", now with GDP at 1.5% growth, is not the time for a growth merger. This merger smells live both needed each other to survive. And like many old growth businesses, this one seems to be fuel for further mergers until there are fewer and fewer big name box stores.
Quote from: stephendare on December 19, 2011, 02:27:49 PM
Quote from: tufsu1 on December 19, 2011, 02:26:10 PM
Quote from: fsujax on December 19, 2011, 10:29:34 AM
oh and I hope they do not do away with fuelperks. that is the only reason I go to WD.
really? convenience, pricing, and community pride has nothing to do with it
Don't forget their excellent downtown restaurant either, TUFSU!
Bwahahahahaahhahaaha