BJ’s Wholesale Receives Takeover Bid

Leonard Green & Partners and CVC
Capital Partners Advisory have submitted a proposal to acquire BJ’s Wholesale Club,
according to a June 17 SEC filing by the company.

A membership-based warehouse club, BJ’s
operates more than 190 stores in 15 states.

Terms of the deal were not disclosed,
but under the new deal LGP and CVC would acquire all outstanding shares of BJ’s.

“There can be no assurance that LGP
and CVC will reach an agreement with [BJ’s],” the filing added.

According to The New York Times, BJ’s has been exploring a sale since
earlier this year.

LGP’s retail holdings and investments
include Jo-Ann Stores, watch retailer Tourneau, and J.
Crew.

BJ’s did not respond to a request for
comment from JCK.