Bi-Lo discloses how much it’s paying for Piggly Wiggly stores

The Piggly Wiggly supermarket at Meeting and Columbus streets on the peninsula is among the stores that Bi-Lo is buying from the Charleston-based grocery chain. Buy this photo

The buyer of nearly two dozen Piggly Wiggly supermarkets in South Carolina and Georgia has divulged a key detail about the deal: the price.

Changing hands

Piggly Wiggly is selling 22 stores to Bi-Lo in South Carolina and Georgia. Those being sold to Bi-Lo in or near the Charleston region:

445 Meeting St., Charleston

630 Skylark Dr., Charleston

104 Jungle Road, Edisto Beach

3575 Maybank Highway, Johns Island

9616 U.S. Highway 78, Ladson

Stores that Bi-Lo is buying outside the Charleston region and in Georgia:

3386 Railroad Ave., Bamberg

50 Burnt Church Rd., Bluffton

136 S. Main St., Clover

4711-1 Forest Dr., Columbia

3353 S.C. Hwy. 72/221 East, Greenwood

760 U.S. Hwy. 378, Lexington

4360 Augusta Road, Lexington

208 East McIntyre St., Mullins

115 Willbrook Blvd., Pawleys Island

518 N. Wheeler Ave., Prosperity

615 Harry C Raysor Dr., St. Matthews

1338 North Way, Darien, Ga.

4415 Augusta St., Garden City, Ga.

312 S. Main St., Glennville, Ga.

1042 U.S. Hwy. 80 West, Pooler, Ga.

2142 East Victory Drive, Savannah.

7360 Skidaway Road, Savannah.

Bi-Lo is forking over about $35 million in cash for 21 “operating” stores in the neighboring states, according to a federal document.

Southeastern Grocers Inc. disclosed the figure in the filing with the Securities and Exchange Commission on Thursday.

Charleston-based Piggly Wiggly Carolina Co. Inc. announced this month it’s selling 29 of the roughly 100 stores it owns or does business with to Bi-Lo and Harris Teeter. It cited rampant consolidation and competition as the key reasons.

Of those, Bi-Lo is picking up 22 locations that employ about 1,200 workers. The chain did not identify which store is not classified as “operating” on Thursday.

Piggly Wiggly said it “is not commenting on any terms of the agreement or the involved stores.”

Jacksonville, Fla.-based Southeastern Grocers is the newly formed parent company of Bi-Lo and Winn Dixie. It filed papers Thursday as part of its plan to sell stock in an initial public offering that’s expected to raise up to $500 million.

The company reported the Piggly Wiggly purchase price in one of the IPO documents. It said it plans to finalize the deal in the fourth quarter.

Bi-Lo, which already is big player in Charleston’s crowded supermarket scene, has said it will rebrand the acquired stores under its name. The sale includes four Piggly Wiggly locations within the tri-county area.

The $35 million sales figure works out to about $1.66 million per supermarket. That’s slightly less than the $1.7 million Bi-Lo is paying on average for the 155 stores it’s buying from Food Lion’s parent, Delhaize Group.

Both deals “will significantly expand the number of operating stores in our footprint.” Southeastern Grocers said.

Contact John McDermott at 937-5572

Comments { }

Postandcourier.com is pleased to offer readers the enhanced ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Postandcourier.com does not edit user submitted statements and we cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not postandcourier.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website. Read our full Terms and Conditions.