MONDAY February 10, 2020
Public legal notices begin on page 3
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Daily Record JACKSONVILLE
THE MATHIS REPORT
Fidelity to acquire FGL Holdings in $2.7B deal
Daily Record JACKSONVILLE
Save A Lot is closing some stores amid grocery turmoil
Fidelity expects the acquisition to increase its earnings per share by 10% this year and by 20% in 2021.
Daily Record Daily Record JACKSONVILLE
STORE CLOSINGS
SAVE A LOT Save A Lot has closed three stores in Northeast Florida since December and told employees it will shut a fourth. The St. Louis-based chain reached a debt deal with its lenders in January.
stores operating in Northeast Florida. Southgate Plaza landlord representative Frank Reinstine said Feb. 6 that Save A Lot’s lease remains in effect until May for the 15,000-square-foot store it leases at 3556 Beach Blvd. Austin Kay with NAI Hallmark represents the Edgewood Avenue Shopping Center and said the store at 3118 Edgewood Ave. W. closed two weeks ago. He said the rent was paid through the end of the month and he is seeking a tenant to fill the 16,230-square-foot space. “The landscape is changing with shopping behaviors and a new generation coming into the fold with more buying power,” said Kay, who is vice SEE MATHIS, PAGE 2
SEE FIDELITY, PAGE 2
EARTH FARE Earth Fare will close all its stores, including two in Duval County and one in St. Johns.
LUCKY’S MARKET The bankrupt chain is closing most of its stores, including two in Jacksonville.
KAREN BRUNE MATHIS EDITOR
The discount chain has closed at least three stores in Northeast Florida with a fourth expected.
CONTRIBUTING WRITER
Fidelity National Financial Inc. announced a deal Feb. 7 to buy an annuity and life insurance company connected to Fidelity Chairman Bill Foley. Jacksonville-based Fidelity agreed to acquire FGL Holdings for cash and stock valued at $2.7 billion. FGL operates a Des Moines, I o w a - b a s e d Foley company called Fidelity & Guaranty Life, which was bought by an investment company formed by Foley in 2017. Foley is co-chairman of FGL and controlled 6.7% of the stock, according to FGL’s most recent proxy statement. Title insurance company Fidelity National Financial was not previously connected to Fidelity & Guaranty Life before Foley’s company bought it. However, Fidelity now owns 7.9% of FGL’s stock. In a news release, Foley said Fidelity’s board of directors and management decided to buy FGL after the company’s planned acquisition of Stewart Information Services was called off last year. Foley said Fidelity officials reviewed its “capital allocation strategy and determined that expanding into the annuity market through the acquisition of
JACKSONVILLE
Another grocery retailer, Save A Lot, is closing some area stores. The discount grocery chain closed at least three stores in Northeast Florida since December. Those are in Southgate Plaza and the Edgewood Avenue Shopping Center in Jacksonville and at Tuesday Morning Plaza in Orange Park. A fourth closing is expected. The Jacksonville Daily Record was told that employees were notified the Beauclerc Village store at 9742 Old St. Augustine Road would close Feb. 22. Landlord Saglo Development could not be reached for comment. A Save A Lot representative said the afternoon of Feb. 6 he would return a call with whatever information he could share. Save A Lot has at least nine remaining
BY MARK BASCH
Underbelly to reopen in the spring Underbelly will be back on Bay. Jason Hunnicutt and Duane De Castro, owners and founders of 1904 Music Hall and Spliff’s Gastropub, announced Feb. 6 that Fun Department LLC leased the space at 113 E. Bay St. They said they will reopen the music venue Underbelly, which previously occupied the building, in the spring. The team plans to continue Underbelly’s legacy of hosting live music from local bands and national touring artists. The venue also will feature food, craft beer, wine and cocktails. Its website will be underbellyjax.com. The previous Underbelly closed in 2015.
VOLUME 107, NO. 59 • ONE SECTION