BJS Wholesale Club said Thursday that it had decided "to explore and evaluate strategic alternatives, including a possible sale of the company."
This only confirms what the market has known for months: it happens for retail audience.
BJ has hired Morgan Stanley to run the sale process. In November, people briefed on the subject said DealBookk that tender was launched by private equity Leonard Green & Partners has made a takeover opening.
Retail has seen an attractive takeover candidate since July, when Leonard environmentally friendly procurement 9.5 percent. (Leonard Green also struck deals for Jo-Ann Stores, with TPG Capital, J. Crew.)
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The company has little debt and $ 65.8 million cash on hand, according to Capital IQ. Sales in stores open more than a year has been disappointing in the past, however. In last month announced BJ plans to close five foolish shops.
BJ's, based in Natick, Mass., Has 187 stores canadian supermarkets in 15 countries. It has a total enterprise value of $ 2.28 billion.
Club wholesale warehouse club chain owned by Loblaw Companies with locations throughout Canada. Products baked goods, dairy products, delicatessen, frozen food, garden centers, general grocery, Photo Prints, general merchandise, drugstore, meat and poultry, produce, seafood, snacks.
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