More grocery consolidation as Winn-Dixie explores a sale
Southeastern Grocers, parent company of the Winn-Dixie and Harvey supermarket chains, is exploring a sale, according to The Wall Street Journal.
Why it matters: This comes shortly after Kroger agreed to buy Albertsons for $24.6 billion, putting pressure on others in the industry to consolidate.
Background: The Jacksonville, Fla.-based retailer canceled IPO plans last year. In early 2018, when owned by Lone Star Funds, it filed for Chapter 11 bankruptcy protection.
The bottom line: Southeastern Grocers could become a consolation prize for either Kroger or Albertsons, were their merger to be blocked by antitrust regulators. But, as Axios Pro's Richard Collings notes, it also may be removing itself as a bidder for the hundreds of stores that Kroger would need to divest were its Albertsons deal to go through.