USA: Amazon interested in buying BJ’s Wholesale
Amazon is interested in buying BJ’s Wholesale Club, which is currently up for sale, according to several news reports.
BJ’s, owned by private equity firms CVC Capital Partners and Leonard Green & Partners, could reportedly fetch more than $4 billion — nine times BJ’s $450 million in EBITDA — if it were sold
Walmart, and private equity firms KKR, Bain Capital, TPG and Blackstone may also be interested, according to the New York Post. The newspaper added BJ’s owners initially were interested in offering the company’s shares on Wall Street in an initial public offering, but decided against these plans due to uncertainty in the retail sector.
Westborough-based BJ’s is already interviewing bankers so it can be begin a sale process, the news outlet reported.
BJ’s would not comment when reached by the Post, while Amazon did not return phone calls.
BJ’s operates approximately 210 club stores in 15 states along the eastern seaboard from Maine to Florida
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