NATICK, Mass. — Two private equity firms are teaming up to make an offer to buy BJ’s Wholesale Club, according to a report in the New York Post Wednesday.
Leonard Green & Partners, the Los Angeles based private investor whose investment last summer sparked BJ’s to explore a sale, is teaming up with CVC Capital Partners and will make a $2.8 billion offer next week, the report said. Green and CVC, a London-based investment firm, recently teamed up to bid for retailer Big Lots before that auction was called off, and both invest in Leslie’s Swimming Pool Supply, the Post noted.
BJ’s said it would explore strategic options earlier this year. Bids are due next week, the Post said. BJ’s stock price was up $1 to $48.70 per share early Wednesday.