March 22, 2011
Suitor For BJ's Wholesale Revealed
By Christina Davis
A California private equity firm is considering an offer to acquire Natick-based BJ's Wholesale Club, according to a filing by BJ's with the Securities and Exchange Commission.
The filing, dated March 21, says that California-based Leonard Green & Partners and BJ's have "entered into a confidentiality agreement" and that Leonard Green plans "to evaluate a potential acquisition" of BJ's.
BJ's Wholesale announced on Feb. 3 that it was exploring a sale after months of speculation on the market.
Leonard Green was founded in 1989. Its retail investments include The Container Store, David's Bridal and Rite Aid. The firm has a 9.3 percent stake in BJ's Wholesale, according to a report from the Associated Press.
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