After months of silence on its plans for an initial public offering, the parent company of the Winn-Dixie and Bi-Lo supermarket chains formally withdrew its plans to go public Tuesday, the Jacksonville Daily Record reports.
The Jacksonville-based company originally filed plans for an IPO with the Securities and Exchange Commission in September 2013.
It made an updated filing in November, but hadn’t said anything about the IPO since then.
The company is known as Bi-Lo Holdings LLC but it filed plans for the IPO under the name Southeastern Grocers Inc.
Southeastern Grocers on Tuesday filed a withdrawal statement with the SEC.
“The company has determined not to pursue the contemplated public offering at this time,” the statement said, but it gave no other details.
Bi-Lo Holdings spokesman Brian Wright said by email that the company doesn’t comment on these matters.
South Carolina-based Bi-Lo acquired Winn-Dixie Stores Inc. in 2012 and put the headquarters of the merged company in Winn-Dixie’s offices in Jacksonville.
After expanding this year with the acquisition of a group of stores from the Delhaize Group, Bi-Lo Holdings currently operates 830 supermarkets in eight southeastern states under the Bi-Lo, Winn-Dixie and Harveys names.
In its last IPO filing in November, the company reported sales of $7.7 billion in the first nine months of 2013.
It operated 684 stores at that time, before completing the Delhaize deal.
The company is owned by funds managed by Dallas-based Lone Star Funds.
The IPO filings said Southeastern Grocers intended to sell up to $500 million in stock to the public, but Lone Star intended to retain a majority stake in the company after the stock sale.