Bi-Lo Holdings LLC is planning an initial public offering (IPO) later this year, according to published reports.
Citing unnamed sources, Reuters reported that the expanding Southeast regional grocery operator has hired Citigroup Inc., Credit Suisse AG and Deutsche Bank AG to work on the deal. Bi-Lo has declined to comment on the matter.
After completing its purchase of Winn-Dixie for $560 million and taking the grocery chain private in 2012, Bi-Lo, which is owned by Dallas-based private equity firm Lone Star Capital, moved its headquarters from Mauldin, S.C., to Winn-Dixie’s hometown of Jacksonville, Fla.
Earlier in 2013, Bi-Lo entered an agreement to acquire the Sweetbay, Harveys and Reid’s grocery chains from Brussels-based parent company Delhaize Group for $265 million in cash.