Leonard Green Completes BJ's Buy

WESTBOROUGH, Mass. — A private-equity group has completed its previously announced acquisition of BJ's Wholesale Club [3] here, the retailer said Friday.

Beacon Holding, an affiliate of Leonard Green & Partners, and funds advised by CVC Capital Partners, paid $51.25 per share in cash, or about $2.8 billion, for the membership-club operator.

The transaction, formally announced in June, had been approved by BJ's stockholders at a special meeting on Sept. 9. BJ's common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, Oct. 3.

BJ's was founded in 1984 and currently operates 190 warehouse clubs in 15 states.

Leonard Green & Partners has a stake in Austin, Texas-based Whole Foods Market and several other retailers.