The retail appetite of private-equity firm Leonard Green & Partners apparently hasn't waned. It is now looking to pick up BJ's Wholesale Club, according to a New York Post article.
The move to purchase BJ's follows the $3 billion acquisition of clothier J. Crew and the proposed buyout of Jo-Ann Stores for $1.6 billion. An acquisition of BJ's would give Leonard Green 190 warehouse clubs, mainly in the Northeast.
According to the Post, Leonard Green already owns a 9.5% stake in BJ's, which hired Morgan Stanley recently and is exploring strategic alternatives. One of those options is apparently the sale leaseback of its real estate portfolio, valued at around $1 billion.
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