Report: Two firms team up for BJ’s buyout bid
New York City -- Two private equity firms are teaming up to make a bid to purchase BJ’s Wholesale Club, the New York Post reported.
Leonard Green & Partners and CVC Capital Partners are reportedly set to offer $2.8 billion to purchase the club retailer, according to the Post.
Rumors that BJ's Wholesale could be sold have been circulating for months. In March, the chain revealed in an SEC filing that it entered into a "confidentiality agreement" with Leonard Green to evaluate a possible purchase.
A company representative for BJ's Wholesale Club said it is not commenting on potential buyout discussions.