Managing Editor Southeastern Grocers will hold virtual sourcing conference this spring to improve partnerships with existing minority suppliers and connect with other diverse businesses to expand offerings in its stores, including Harveys.
Southeastern Grocers Inc. (SEG) is bolstering its commitment to include a broader range of diverse suppliers with a new program. Under the initiative, the grocer will work to identify and boost sourcing from grocery, general merchandise, and/or beauty and personal care product suppliers that are at least 51% owned, operated and managed by people who are disadvantaged, disabled, LGBTQ+, military veterans, minorities and/or women.
“It is our responsibility to take purposeful steps to form stronger partnerships with our minority suppliers and connect with new, diverse businesses whose products reflect the tastes and preferences of our associates, customers and communities that we serve in our stores,” noted Dewayne Rabon,
Southeastern Grocers Inc, the operator of U.S. supermarket chains Winn-Dixie and Harveys, decided on Thursday to cancel its initial public offering, the second time in recent years that it pulled an IPO.
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NEW YORK (Reuters) - Southeastern Grocers Inc, the operator of U.S. supermarket chains Winn-Dixie and Harveys, decided on Thursday to cancel its initial public offering, the second time in recent years that it pulled an IPO.
Southeastern Grocers did not specify the reason for withdrawing the IPO. The company made the decision due to a lack of demand at the price range it was targeting, Reuters reported earlier on Thursday, citing a person familiar with matter.
“The company will continue to evaluate the timing for the proposed offering as market conditions develop,” Jacksonville, Florida-based Southeastern Grocers said in a statement.
Southeastern Grocers, whose supermarket banners include Winn-Dixie and Harveys, has postponed its latest IPO.
Southeastern Grocers Inc. has postponed its initial public stock offering a week after providing a price range of $14-$16 for 8.9 million shares. While providing no specific reason for the delay, the grocer said that it would “continue to evaluate the timing for the proposed offering as market conditions develop.”
The company had filed a registration statement with the U.S. Securities and Exchange Commission relating to the proposed sale of its common stock, but the statement had not yet become effective.
Southeastern Grocers said last September it was exploring an IPO through an SEC filing that it said at the time would “help enable [it] to make the decision to become publicly traded, subject to market and other conditions.”
Managing Editor Southeastern Grocers won’t receive any net proceeds from the sale of its common stock by the selling stockholders.
Southeastern Grocers Inc. has launched an initial public offering of 8.9 million shares of its common stock to be sold by certain of its stockholders, at an anticipated price of $14-$16 per share, in accordance with a previous filing with the U.S. Securities and Exchange Commission. The company isn’t selling any shares in the offering.
The selling stockholders will grant the underwriters a 30-day option to purchase up to an additional 1.3 million shares of Southeastern Grocers’ common stock. The company has applied to list the shares of common stock on the New York Stock Exchange under the ticker symbol “SEGR.”