BJ’s Wholesale Club has new owners, and its common stock will be falling off the New York Stock Exchange…at least for now. In a press release issued today, private equity firms Leonard Green&Partners and CVC Capital Partners announced they bought the club. According to the announcement, BJ’s stockholders approved the sale earlier this month. The company’s current stockholders will get $51.25 per share, and BJ’s (NYSE: BJ) will be removed from NYSE common stock by the beginning of business this Monday.
According to the announcement, this deal had been in the works since the end of June.
The AP reports Leonard Green and CVC bought the company for $2.8 billion.
“It was considered an attractive target because membership-based warehouse club operators were among the businesses that performed well during the recession as consumers looked to stretch their dollars further. They have continued to perform well during the ongoing economic uncertainty plaguing the US.”
Among its 190 warehouses nationwide, BJ’s Wholesale Club has six outposts scattered throughout New Hampshire. They’re located in Hooksett, Nashua, Portsmouth, Salem, Tilton, and West Lebanon.