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BJ's Wholesale Exploring a Buyout or an IPO

BJ's Wholesale Exploring a Buyout or an IPO

Tuesday, February 14th, 2017

BJ’s Wholesale is making moves in ownership, according to a Wall Street Journal article, with either an acquisition or an IPO on its horizon.

Should the company pursue an IPO, it could come in the second half of 2017, according to people familiar with the matter.

WSJ reports that Leonard Green & Partners LP and CVC Capital Partners Ltd. are in the process of hiring investment bankers to advise on options that could mean a multibillion dollar deal for BJ’s Wholesale, including a full sale or initial public offering.

In a recent report by the Post and Courier, BJ Wholesale Club CEO, Chris Baldwin, named an emphasis on its fresh business as key to its strategy of being cutting edge in the industry.

Now, the company appears to consider itself in a prime position to break something of a drought in the IPO circuit.

Dealogic noted last year was the slowest for U.S. IPOs by dollar volume raised since 2003, according to WSJ, with only a handful of retailers in particular having made the move.

BJ’s Wholesale currently has more than 210 membership-based warehouse clubs in soon-to-be 16 states, about 25,000 employees, and upwards of $11 billion in annual sales.

Deli Market News will continue to report as the company makes more details known.

BJ's Wholesale