WSJ: Southeastern Grocers looking at sale
Jacksonville-based Southeastern Grocers Inc. is exploring a sale, according to the Wall Street Journal, who cSuch a move would come almost two years after the parent company of Winn-Dixie, Harvey's and Fresco y Mas canceled plans for an initial publishing offering that was set to raise $142.4 million.
It would also come at a time of consolidation in the industry: Kroger — which has almost 10% of the national grocery market share — is set to acquire Albertsons’ 2,273 stores in 34 states and D.C., picking up somewhere on the order of 5.5% of the market. Southeastern Grocers, which runs about 420 stores primarily in the Southern U.S., was expected to generate about $9.6 billion in sales in 2020, the Journal said, citing the company’s filings with the Securities and Exchange Commission related to the planned initial public offering.
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