Jacksonville-Based Southeastern Grocers Files For IPO

Oct 20, 2020

Southeastern Grocers Inc. is going public with 420 supermarkets under the Winn-Dixie, Harveys and Fresco y Mas banners that produced $6.7 billion in sales last year.

WJCT News partner the Jacksonville Daily Record reported Tuesday that with a surge in business during the COVID-19 pandemic, comparable-store sales jumped 18.4% in the first half of this year.

The Jacksonville-based company became profitable, according to its registration statement for an initial public offering.

Southeastern Grocers announced last month it filed a confidential registration statement with the Securities and Exchange Commission for a possible IPO, but gave few details.

The company filed its public statement with the SEC on Oct. 19 that does not say how much stock will be sold in the IPO, but gives details on operations of the supermarket chain.

However, the registration statement still doesn’t reveal who owns the company. The section titled “Principal and Selling Stockholders” is blank.

Southeastern Grocers went through a prepackaged Chapter 11 bankruptcy reorganization in 2018 that resulted in a group of creditors receiving the company’s stock in exchange for debt. However, court documents never specified who received the stock and became owners of the company.

Read the rest of this story on JaxDailyRecord.com.