EX-99.1
Press Release
October 30, 2000
EXHIBIT INDEX
Exhibit Number 99.1 Winn-Dixie Stores, Inc.
Press Release dated October 30, 2000
News Release No. 1008
(NYSE): WIN
RELEASE DATE: OCTOBER 30, 2000
MEDIA CONTACT:
Mickey Clerc, Director of Public Relations,
(904) 783-5409
INVESTOR CONTACT:
Rick McCook, Chief Financial Officer,
(904) 783-5221
WINN-DIXIE TO BUY 72 GROCERY STORES,
32 FUEL CENTERS AND 2 LIQUOR STORES FROM JITNEY JUNGLE
JACKSONVILLE, FL, October 30, 2000 - Winn-Dixie Stores, Inc. (NYSE: WIN) today
announced an agreement with Jitney-Jungle Stores of America, Inc. and related
companies under which Winn-Dixie plans to purchase 72 grocery stores, 32 fuel
centers and 2 liquor stores. The Jitney-Jungle companies, headquartered in
Jackson, Mississippi, have been operating under Chapter 11 of the Bankruptcy
Code, since October 12, 1999.
Fifty-five of the grocery stores are located in Mississippi, eleven in Alabama,
three in Louisiana and three in Florida. Most of the stores will become part of
Winn-Dixie's Louisiana division and will be serviced from the Hammond Retail
support facility, which currently has excess capacity. Most of the stores will
continue to operate under their current Jitney Jungle, Jitney Premier, Sack &
Save, MegaMarket, Delchamps and Pump & Save banners. Average size of the stores
is approximately 34,300 square feet. Winn-Dixie will interview all of the
employees at the stores to be acquired and plans to hire substantially all of
the 5,600 retail employees at these stores.
Winn-Dixie has agreed to pay approximately $85 million plus inventory for the
stores which currently generate approximately $650 million in annual sales. When
completed, the transaction is projected to generate additional annualized
earnings per share of 12 to14 cents beginning in the Company's fourth fiscal
quarter. Closing is planned for January of 2001 subject to receipt of bankruptcy
court and governmental approvals.
"This acquisition is a very good strategic fit for Winn-Dixie," said Allen R.
Rowland, Winn-Dixie President and Chief Executive Officer. "These stores will
give us good market share in a new geographic area. Adding excellent retail
store management and employees to our Company is also exciting. The synergies of
the excess capacities of our Hammond, LA retail support center and our
manufacturing operations and Winn-Dixie's buying power should provide positive
results for the Company."
Winn-Dixie Stores, Inc, (NYSE: WIN), is one of the nation's largest supermarket
retailers, with over 1,000 stores in 14 states and the Bahamas. 2000 marks the
Company's 75th anniversary. For more information on Winn-Dixie, visit its
official website at http://www.winn-dixie.com.
Cautionary Statement Regarding Forward-Looking Information and Statements
--------------------------------------------------------------------------------
This news release contains forward-looking information and statements
that involve risks and uncertainties that could cause actual results to differ
materially from those projected. Therefore, this news release should be read in
conjunction with the reports the Company has filed with the Securities and
Exchange Commission.
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