This past July, Los Angeles-based private-equity firm Leonard Green & Partners made an undisclosed offer to the wholesaler, according to Bloomberg News. Leonard Green, which purchased 9.5 percent of BJ's shares in July, is exploring the idea of taking the retailer private. The firm has previously invested in Whole Foods, Rite Aid, Neiman Marcus and Petco Animal Supplies. Boston's Bain Capital is reported to be another potential bidder for BJ's.
BJ's has reportedly hired Morgan Stanley to market and finance the sale.
The company operates 191 stores in 15 states, mainly throughout New England. Its rivals include Costco and Walmart's Sam's Club.
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