Leonard Green & Partners And CVC Complete Acquisition Of BJ’s Wholesale Club, Inc.
BJ's Wholesale Club, Inc. (NYSE: BJ) ("BJ's" or the "Company") today announced the completion of its acquisition by Beacon Holding Inc. (an affiliate of Leonard Green & Partners, L.P. ("LGP") and funds advised by CVC Capital Partners ("CVC")), for $51.25 per share in cash, without interest and less any applicable withholding taxes, pursuant to a merger agreement by and between the Company, Beacon Holding Inc. and Beacon Merger Sub Inc. (a wholly-owned subsidiary of Beacon Holding Inc.), dated June 28, 2011.
The transaction was approved by the Company’s stockholders at a special meeting of stockholders held on September 9, 2011. BJ’s common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, October 3, 2011.
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, American Stock Transfer & Trust Company, LLC.
About BJ's Wholesale ClubBJ'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. 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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