Content about Leonard Green

October 11, 2011
99 Cents Only in $1.6 billion buyout

Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

Commerce, Calif. -- Discounter 99 Cents Only Stores said Tuesday it has agreed to be acquired by a group of investors including its founding family, Ares Management and Canadian Pension Plan Investment Board for $1.6 billion in cash.

The announcement ends a months-long sales process, which started with a takeover offer from Leonard Green & Partners in March.

September 30, 2011
Leonard Green and CVC complete acquisition of BJ’s

Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club.

Westborough, N.H. -- Private equity firms Leonard Green & Partners and CVC Capital Partners on Friday completed their $2.8 billion acquisition of BJ's Wholesale Club. The move, which takes the chain private, sets the stage for a stock delisting, effective Monday before the markets open.

The deal was announced in late June after months of speculation. BJ’s shareholders approved the buyout on Sept. 9. The chain currently operates 190 warehouse clubs in 15 states.
 

September 21, 2011
Report: BJ’s reduces LBO loan

BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

New York City -- BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

The retailer cut a first-lien piece by $50 million to $1.075 billion, the report said, citing a source who declined to be identified.
 

September 9, 2011
BJ's shareholders OK acquisition

BJ’s Wholesale Club said Friday that its shareholders have okayed the acquisition bid that will take the company private.

Westborough, Mass. -- BJ’s Wholesale Club said Friday that its shareholders have OK'd the acquisition bid that will take the company private.

Private equity firms Leonard Green & Partners and CVC Capital Partners agreed to acquire the warehouse club operator in a deal valued at $2.8 billion.

According to BJ’s, 72% of its shareholders approved the bid. The deal is slated to close on or about Sept. 30.
 

August 4, 2011
Costco, BJ’s and Target beat estimates in July

Warehouse club operators Costco and BJ’s Wholesale Club continue to benefit from high fuel prices and bargain-seeking consumers, with both chain reporting solid results.

New York City -- Warehouse club operators  Costco and BJ’s Wholesale Club continue to benefit from high fuel prices and bargain-seeking consumers, with both chain reporting solid results.

Costco reported a 10% rise in same-store sales In July, beating Wall Street's expectations for an 8.6% increase.

June 29, 2011
Leonard Green buying BJ’s Wholesale for $2.8 billion

BJ's Wholesale Club announced on Wednesday that it has agreed to be acquired by the private equity firms of Leonard Green & Partners and CVC Capital Partners (“CVC”) in an all-cash transaction valued at approximately $2.8 billion.

New York City -- BJ's Wholesale Club announced on Wednesday that it has agreed to be acquired by the private equity firms of Leonard Green & Partners and CVC Capital Partners (“CVC”) in an all-cash transaction valued at approximately $2.8 billion.

BJ's, based in Westborough, Mass., has 190 stores in 15 states. The company said its board unanimously approved the buyout.

June 17, 2011
BJ's receives buyout offer

Leonard Green & Partners and CVC Capital Partners said Friday they are making a joint buyout bid worth an undisclosed amount for BJ's Wholesale Club.

New York City -- Leonard Green & Partners and CVC Capital Partners said Friday they are making a joint buyout bid worth an undisclosed amount for BJ's Wholesale Club. The two private equity firms revealed their plans in a Securities and Exchange Commission filing on Friday. The bid price was not disclosed.

In February, BJ's announced it was exploring a sale. In March, Leonard Green is already the chain's larger shareholder, with a 9.3% stake.

June 9, 2011
Report: Two firms team up for BJ’s buyout bid

Two private equity firms are teaming up to make a bid to purchase BJ’s Wholesale Club, the New York Post reported.

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.

April 13, 2011
Report: Leonard Green set to make bid for BJ’s

Leonard Green & Partners is expected to make an opening-round offer on Wednesday for BJ’s Wholesale Club, the New York Post reported, citing unidentified people familiar with the matter.

New York City -- Leonard Green & Partners is expected to make an opening-round offer on Wednesday for BJ’s Wholesale Club, the New York Post reported, citing unidentified people familiar with the matter.

Bidders picked for the second round will probably be asked to make binding offers by the end of May, the newspaper said.

March 22, 2011
Leonard Green firm evaluating BJ’s takeover

Information on Tuesday confirmed that private equity firm Leonard Green & Partners LP is considering an offer to acquire BJ’s Wholesale Club.

New York City -- Information on Tuesday confirmed that private equity firm Leonard Green & Partners LP is considering an offer to acquire BJ’s Wholesale Club.

Leonard Green, which already as a 9.3% ownership stake in the wholesale club operator, said in an SEC filing that it is examining confidential information provided by BJ's as it evaluates an offer.

BJ's revealed in February that it was considering selling itself.

March 18, 2011
Jo-Ann shareholders approve merger

Shareholders of Jo-Ann Stores on Friday approved a $1.6 billion merger with an affiliate of Leonard Green & Partners.

New York City -- Shareholders of Jo-Ann Stores on Friday approved a $1.6 billion merger with an affiliate of Leonard Green & Partners.

Of all the shares that were voted, more than 99% were in favor of the agreement. Those in favor of the pact represented 82 of outstanding shares. The company expects the deal to close Friday.

The company will be delisted from the New York Stock Exchange.

March 1, 2011
J.Crew shareholders approve buyout by TPG, Green

Shareholders of J.Crew Group have approved a $3 billion deal to be taken private by two investment firms.

New York City -- Shareholders of J.Crew Group have approved a $3 billion deal to be taken private by two investment firms.

The $43.50-per-share buyout by private-equity firms TPG Capital and Leonard Green & Partners is expected to close on or near next Monday. J. Crew CEO Millard (Mickey) Drexler will remain with the company.

February 17, 2011
No new bidders for J. Crew

J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.

New York City -- J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.

J. Crew agreed in November to be taken private in a $3 billion deal with two investment firms, TPG Capital and Leonard Green & Partners. It originally had until Jan. 15 to vet other prospects, and that period was extended by a month.

February 15, 2011
Jo-Ann Stores to move forward with sale to Leonard Green

Jo-Ann Stores announced Tuesday that it has received no other takeover bids after a nearly two-month "go-shop" period.

New York City -- Jo-Ann Stores announced Tuesday that it has received no other takeover bids after a nearly two-month "go-shop" period. The fabric and crafts chain said it will therefore ask shareholders to vote on the company's proposed $1.6 billion sale to Leonard Green & Partners LP.

The meeting is scheduled for March 18.

Jo-Ann Stores, which operates 751 stores in 48 states, announced the proposed sale in December. The company had until Feb. 14 to seek a better offer.

February 1, 2011
Report: J. Crew $10 million settlement of TPG buyout suit unravels

A report released Monday by Bloomberg said that J. Crew Group’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP has fallen apart.

New York City -- A report released Monday by Bloomberg said that J. Crew Group’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP has fallen apart.

Citing a lawyer for the shareholders, the report said that J. Crew officials undermined a deal in which the clothier agreed to extend the period to solicit competing offers to the $3 billion buyout bid. The accord also included a $10 million payment to plaintiffs.

January 18, 2011
J. Crew potential settlement could extend bidding period

A Tuesday report by Bloomberg said that J. Crew Group is close to settling a shareholder lawsuit over its proposed $3 billion takeover by private-equity firms TPG Capital and Leonard Green & Partners LP.

New York City -- A Tuesday report by Bloomberg said that J. Crew Group is close to settling a shareholder lawsuit over its proposed $3 billion takeover by private-equity firms TPG Capital and Leonard Green & Partners LP.

Citing two unnamed sources, the report said that as part of the settlement, J. Crew would extend the period to solicit competing offers until Feb. 15 and add provisions that make it easier to accept a rival bid.

January 17, 2011
Report: No rival bids for J. Crew

J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

January 3, 2011
J. Crew seeks $1.85 billion financing to fund leveraged buyout

J. Crew is seeking $1.85 billion of debt to help fund its $3 billion buyout by TPG Capital and Leonard Green & Partners LP.

New York City -- J. Crew is seeking $1.85 billion of debt to help fund its $3 billion buyout by TPG Capital and Leonard Green & Partners LP.

Bank of America Corp. and Goldman Sachs Group are arranging a $1 billion seven-year term loan, $600 million in senior unsecured notes and a $250 million five-year asset-based revolving line of credit, according to a commitment letter attached to a regulatory filing, Bloomberg reported.

November 23, 2010
J. Crew to be acquired in $3 billion buyout

J. Crew Group on Tuesday agreed to be bought by two private-equity firms for about $3 billion.

New York City -- J. Crew Group on Tuesday agreed to be bought by two private-equity firms for about $3 billion. TPG Capital (a former owner of J. Crew) and Los Angeles-based Leonard Green & Partners will pay $43.50 a share in cash, according to a statement from the specialty retailer.

The purchase price is a 16% premium to the stock's closing price of $37.65 Monday.

January 31, 2007
Perfect Timing

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September 26, 2006
Petco Animal Supplies Ratings Removed From Watch

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