MIAMI (CBSMiami.com) – The Bi-Lo Grocery chain has agreed to purchase Winn-Dixie for more than a half billion dollars and create one of the largest grocery operators in the South.

Once the deal is completed, Bi-Lo will have roughly 690 stores and 63,000 workers in eight states across the South. BI-Lo currently runs 207 stores in the Carolinas, Georgia and Tennessee.

By purchasing Winn-Dixie, Bi-Lo will now have stores in Florida, Alabama, Louisiana, Georgia, and Mississippi.

As part of the deal, both companies announced Monday that no store closings are expected and the name Winn-Dixie will remain on the stores due to brand recognition.

Winn-Dixie’s board unanimously approved the deal, which should be finished in the next two to three months.

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