JACKSONVILLE, Fla. – BI-LO LLC announced the successful completion of the company's merger with Winn-Dixie Stores Inc.

Winn-Dixie shareholders approved the transaction March 9. Under the deal, all Winn-Dixie shareholders will be eligible to receive $9.50 per share in cash for each common stock held for a total purchase price of $560 million. BI-LO and Winn-Dixie are now subsidiaries of BI-LO Holding, a privately held parent company. BI-LO and Winn-Dixie will continue to operate under their respective names. Store closures are not expected, according to BI-LO. The company will eventually have headquarters in Jacksonville, Fla.

“With the merger of BI-LO and Winn-Dixie now complete, we can begin delivering on this exciting combination for the benefit of our customers, team members and communities,” said Randall Onstead, chief executive officer and president of BI-LO Holding, the parent company of BI-LO and Winn-Dixie. “Together, we are a stronger company that will be focused on meeting and exceeding our customers’ expectations by offering even greater value with the service and shopping experience that they have come to expect.”