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

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.

About CVC Capital Partners

CVC is one of the world’s leading private equity and investment advisory firms, with a network of 20 offices and over 230 employees throughout Europe, Asia and the United States. CVC funds seek to identify attractive investments and then develop sustainable, long-term value in close partnership with management teams. To date, CVC has raised over $44 billion from a diverse and loyal investor base and is currently investing from funds with an aggregate of over $10 billion in available equity capital. Since its founding in 1981, CVC has completed over 280 investments in a wide range of industries and countries. CVC’s current retail investments in the U.S. include Pilot Flying J and Leslie’s Poolmart.

SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS

Statements in this press release regarding the merger and the expected timetable for completing the merger constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “expects,” “plans,” “anticipates,” and similar expressions) should also be considered to be forward looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including: the parties' ability to finance the merger, meet closing conditions or consummate the merger on the contemplated timeline or at all; the outcome of legal proceedings that have been instituted in connection with the merger; and the other factors described in the Company’s Annual Report on Form 10-K for the year ended January 29, 2011 and its most recent quarterly report filed with the SEC. LGP, CVC and the Company disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Copyright Business Wire 2010

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