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BJ’s Stockholders Vote To Approve Acquisition By Leonard Green & Partners And CVC

Stocks in this article: BJ

BJ's Wholesale Club, Inc. (NYSE: BJ) (“BJ’s” or the “Company”) announced that, at the special meeting of stockholders held today, its stockholders approved the adoption of the previously announced merger agreement between the Company and affiliates of Leonard Green & Partners, L.P. (“LGP”) and funds advised by CVC Capital Partners (“CVC”). The merger agreement was approved by holders of approximately 72% of the Company’s outstanding common stock. Holders of approximately 0.4% of the Company’s outstanding common stock voted against the merger.

The Company anticipates the closing of the merger will occur on or about September 30, 2011. Upon the closing of the merger, shares of the Company’s common stock will no longer trade on the New York Stock Exchange and will be delisted.

Under the terms of the merger agreement, upon the closing of the merger, the Company’s stockholders will receive $51.25 in cash, without interest and less any applicable withholding taxes, for each share of the Company’s common stock.

Stockholders who hold shares through a bank or broker will not have to take any action to receive the merger consideration, as the exchange of their shares for the merger consideration will be handled by the bank or broker. Stockholders who hold stock certificates will receive a letter of transmittal with instructions regarding delivery of their shares to the Company’s exchange agent, BNY Mellon Shareowner Services.

About BJ’s Wholesale Club

BJ’s introduced the wholesale club concept to New England in 1984 and has since expanded to become a leading warehouse chain in the eastern United States. BJ’s Wholesale Club operates 190 warehouse clubs in 15 states. BJ’s press releases and filings with the SEC are available on the Internet at www.bjsinvestor.com.

About Leonard Green & Partners, L.P.

LGP is a leading private equity firm with over $9 billion of equity capital under management. Based in Los Angeles, LGP invests in market leading companies across a range of industries. Significant current retail investments include J. Crew, Jo-Ann Stores, Whole Foods Market, Neiman Marcus Group, PETCO Animal Supplies, Leslie’s Poolmart, The Sports Authority, The Container Store, Tourneau, David’s Bridal, Jetro Cash & Carry and The Tire Rack.

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