The owners of BJ’s Wholesale Club are interesting in buying Hess Corp. gas stations, the Wall Street Journal reported Tuesday, citing sources familiar with the potential deal.
Hess earlier this year outlined a plan to slim down and focus on finding and extracting oil and natural gas, the Journal reported, adding that divesting its more than 1,300-store retail locations is one of the last, and possibly the largest, steps the company looked at.
BJ’s, based in Northborough, was taken private in 2011 by Leonard Green & Partners and CVC Capital Partners in a deal worth about $2.8 billion.
The Journal said BJ’s owners have enlisted the help of bankers and inquired about the gas-station chain, which they envision pairing with its wholesale clubs, according to people familiar with the matter. Some of BJ’s stores have gas stations bearing the red-and-white BJ’s logo.
