BJ’s Wholesale Club could be sold as early as next week for $2.8 billion to a pair of private-equity firms, according to a published report.
Leonard Green & Partners, which already has a 9.3 percent stake in BJ’s, and CVC Capital Partners are set to make a joint buyout offer for the Westboro-based discount retailer, the New York Post reported today. The paper also said that Apollo Global Management LLC and Bain Capital have pulled out of the race to buy the company.
Kelly McFalls, a BJ’s spokeswoman, declined to comment.
Christina Stenson, a spokeswoman for CVC Capital, also said they do not comment on any possible transactions.
In February, BJ’s, under pressure from activist investors, confirmed that it was exploring a possible sale of the company and hired Morgan Stanley & Co. as its financial adviser. In March, Leonard Green said it was evaluating whether to buy BJ’s and had entered into a confidentiality agreement with the company.