(GREENVILLE, S.C) -- BI-LO, LLC has reached an agreement to acquire Winn-Dixie Stores, Inc. in a deal worth $560 million. Greenville, S.C. based BI-LO operates stores in several southern states, including North Carolina. Winn-Dixie closed all of its North Carolina store after filing bankruptcy in 2005 but still has stores in Florida, Alabama, Louisiana, Georgia and Mississippi.

“We are very excited about the merger of BI‐LO and Winn‐Dixie,” said Randall Onstead, Chairman of BI-LO. “With no overlap in our markets, the combined company will have a perfect geographic fit that will create a stronger platform from which to provide our customers great products at a great value, while continuing to offer exceptional service.”

Under the terms of the merger agreement, BI-LO will acquire all of the outstanding shares of Winn-Dixie. The transaction is expected to close in the next 60 to 120 days.