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Fidelity, AllianceBernstein Reap Payday After Winn-Dixie Rescue

  • Southeastern Grocers plans $87 million payout for owners
  • Turnaround from 2018 bankruptcy gets boost from home cooking

Investment firms that took control of Winn-Dixie’s parent during its 2018 bankruptcy are poised to reap an $87 million payout after sticking with the supermarket operator through a multiyear turnaround and the Covid-19 pandemic.

Southeastern Grocers Inc. will pay a $2 per share special dividend to its owners, which include Fidelity Investments, AllianceBernstein Holding and Osterweis Capital Management, according to people with knowledge of the matter. The move follows a decision to shelve an initial public offering earlier this year.