ATLANTA -- Grocery giants Bi-Lo and Winn-Dixie announced today they will merge in a $560 million deal that will create a company with 690 grocery stores and 63,000 employees in eight states throughout the southeastern United States.
"With no overlap in our markets, the combined company will have a perfect geographic fit that will create a stronger platform," said Randall Onstead, chairman of Greenville, S.C.-based BI-LO, in a statement.
"By combining BI-LO and Winn-Dixie, we anticipate building a company that is stronger than our individual businesses," saidPeter Lynch, chairman, CEO and president of Jacksonville, Fla.-based Winn-Dixie, in a statement.
Winn-Dixie operated 21 stores in Georgia as of June 29.
Atlanta attorneys are playing a prominent role in the-merger. The legal team representing Winn-Dixie was led by King & Spalding partners Michael J. Egan and C. William Baxley, both of the firm's Atlanta office, the firm said. Other Atlanta-based King & Spalding lawyers who worked on the deal include Laura O. Hewett, Adam J. Humphreys, Steven E. Bartz, Carrie A. Ratliff, Brandon T. White, Jacob D. Robinson,Matthew S. McCoy and Mark P. Kelly.
(Atlanta Business Chronicle)