NATICK, Mass. — Stock in BJ's Wholesale Club was up by nearly 18% Thursday after private equity investor Leonard Green and Partners revealed it had purchased a 9.5% ownership stake in the warehouse club here.
Leonard Green, a Los Angeles-based investor with a long history of retail investments, including current holdings in Whole Foods Market, The Container Store, Petco, Neiman Marcus and Rite Aid, said it would seek to meet with BJ's management to discuss potential options for enhancing shareholder value, including a "going private" transaction.
BJ's was not immediately available for comment.
