BJ's Gets Buyout Offer

SN STAFF

NATICK, Mass. — BJ's Wholesale Club here said Friday it has received a joint buyout offer from Leonard Green & Partners and CVC Capital Partners.

Specific terms of the offer were not disclosed. Based on BJ's $49 share price Friday morning, the company is valued at about $2.7 billion.

BJ's has been the subject of buyout speculation for several years. The New York Post had reported last week that an offer from Leonard Green and CVC was expected this week.

Leonard Green & Partners also owns a stake in Whole Foods Market and has other retail holdings, including Jo-Ann Stores. CVC has a diverse international portfolio that includes C1000, a Netherlands-based supermarket chain.