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Bi-Lo Holdings Enters into Agreement with Piggly Wiggly Carolina Company to Acquire 22 Stores

Posted September 12, 2013

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JACKSONVILLE, Fla., September 12, 2013 - Bi-Lo Holdings, LLC (“Bi-Lo Holdings”), parent company of the BI-LO and Winn-Dixie grocery store chains, today announced that it has entered into a definitive agreement with Piggly Wiggly Carolina Company, Inc. (“Piggly Wiggly Carolina Company”) to acquire 22 Piggly Wiggly stores with approximately 1,200 store employees in South Carolina and coastal Georgia. Financial terms of the transactions were not disclosed.

“We look forward to welcoming these new associates to the Bi-Lo Holdings family and to building on the strength of these stores,” said Randall Onstead, president and CEO of Bi-Lo Holdings. “We will continue to fine-tune our company and network of stores so that we can reinvest in what matters most for our customers … the freshest foods, the best deals and really connecting to their neighborhoods.”

“The departure of employees and stores from the Piggly Wiggly team will be acutely felt, but we know that Bi-Lo Holdings will benefit from these outstanding folks,” said David Schools, president and CEO of Piggly Wiggly Carolina Company. “We are glad that employees will have the opportunity to work for Bi-Lo Holdings, and guests will continue to be served by the familiar people who have been the backbone of these stores for years.”

The Piggly Wiggly stores that Bi-Lo Holdings will acquire include 16 in South Carolina and six in Georgia:

• 3386 Railroad Avenue, Bamberg, S.C.
• 50 Burnt Church Road, Bluffton, S.C.
• 445 Meeting Street, Charleston, S.C.
• 630 Skylark Drive, Charleston, S.C.
• 136 South Main Street, Clover, S.C.
• 4711-1 Forest Drive, Columbia, S.C.
• 104 Jungle Road, Edisto Beach, S.C.
• 3353 Highway 72/221 East, Greenwood, S.C.
• 3575 Maybank Highway, Johns Island, S.C.
• 9616 Highway 78, Ladson, S.C.
• 760 Highway 378, Lexington, S.C.
• 4360 Augusta Road, Lexington, S.C.
• 208 East McIntyre Street, Mullins, S.C.
• 115 Willbrook Boulevard, Pawleys Island, S.C.
• 518 North Wheeler Avenue, Prosperity, S.C.
• 615 Harry C Raysor Drive South, St Matthews, S.C.
• 1338 North Way, Darien, Ga.
• 4415 Augusta Street, Garden City, Ga.
• 312 South Main Street, Glennville, Ga.
• 1042 US Highway 80 West, Pooler, Ga.
• 2142 East Victory Drive, Savannah, Ga.
• 7360 Skidaway Road, Savannah, Ga.

The transaction is expected to close in the fourth quarter of 2013 and is subject to the satisfaction of customary closing conditions. Upon completion of the transaction, the acquired stores will be rebranded under the BI-LO banner name.

King & Spalding LLP is acting as legal advisor to Bi-Lo Holdings. Surry Investment Advisors, LLC acted as financial advisor to Piggly Wiggly Carolina Company and Moore & Van Allen, PLLC is acting as legal advisor.

About Bi-Lo Holdings
Bi-Lo Holdings, LLC, the parent company of BI-LO and Winn-Dixie grocery stores, is the ninth-largest conventional supermarket chain in the United States based on net sales. The company employs nearly 60,000 associates who serve customers in 686 grocery stores and 482 in-store pharmacies throughout the eight southeastern states of Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. BI-LO and Winn-Dixie are well-known and well-respected regional brands with deep heritages, strong neighborhood ties, proud histories of giving back, talented and loyal associates, and strong commitments to providing the best possible quality and value to customers. For more information, please visit www.bi-lo.com and www.winn-dixie.com.

About Piggly Wiggly Carolina
Founded in Charleston in 1947, Piggly Wiggly Carolina Company has more than 3,000 employee-owners across South Carolina and coastal Georgia. The company was named the 2012 Independent Retailer of the Year by Progressive Grocer magazine. For more information, please visit www.thepig.net.

Forward-Looking Statements
This press release includes forward-looking statements about future events, which involve risks and uncertainties. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” “could,” “may,” “plan,” “potential,” “likely,” “goal,” “target,” “objective,” “outlook,” “seek” and similar expressions identify forward-looking statements, which generally are not historical in nature.

Forward-looking statements reflect our current expectations, based on currently available information, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. For these reasons, we caution you against relying on forward-looking statements, which speak only as of the date on which they are made. Except as may be required by applicable law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made or to reflect the occurrence of unanticipated events.

Contacts:

Bi-Lo Holdings 
Brian Wright
Vice President, Communications & Community
904-370-6104
brianwright@biloholdings.com

Piggly Wiggly Carolina Company
Christopher Ibsen
Director of Corporate Affairs
843-554-9880 x8118
christopheribsen@thepig.net
 

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Printed on April 23, 2014 at 6:05 pm