Private equity firm wants BJ's go private

Portland, Ore. A private equity firm has bought a large stake in BJ's Wholesale Club and said it plans to talk with the warehouse club's executives about the potential for taking the company private, according to the Associated Press.

Green Equity Investors bought 5.1 million shares of BJ's stock and said the shares are undervalued. That represents about 9.5% of the company's shares.

Green Equity plans to discuss options for improving shareholder value -- including taking the company private, new financing or other transactions, the report said.

The private equity firm has significant investments in food retailers, including Whole Foods Market. Green Equity is an affiliate of retail investors Leonard Green & Partners, which led the buyouts of a number of retailers including Petco Animal Supplies and Sports Authority.