BJ's Wholesale Club is changing ownership. Currently, a decision needs to be made about the future of the club. BJ's Wholesale club is for sale. So what does that mean?
BJ's which is still owned by a private equity firm will either be a sold off company or become a publicly traded company in its own right, according to the Wall Street Journal. Before you get into much of an alarm it is quite normal for private firms to sell businesses every 4-5 years. BJ's was sold to this firm in 2011.
BJ's has 210 membership-based warehouse clubs spread throughout 15 states in the Eastern United States.
So what happens to BJ's Wholesale now that it is up for sale?
According to clark.com –
“If BJ's goes the IPO route (initial public offering), that means it will be able to begin selling shares to investors on Wall Street. Such a move would likely come in the latter half of 2017 if it happens, the newspaper reports.
Meanwhile, the private equity firm that currently owns BJ's is in the process of hiring investment bankers to explore the possibility of a full sale to other owners.”
I was notified that they have canceled their Blogger Ambassador program. Beyond that anything else is possible.
We shall wait and see! I will keep you all updated as I hear anything new.
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The last time it was up for sale I remember sams club took a look at it.
Here on Long Island where I live, there is only one sams club. While I like sams club, bjs is much different. I hope whoever buys it doesn’t change what makes bjs differnt than sams club or Costco.
Hi Jojo! I completely agree. Sam’s is not appealing to me like BJ’s is. Costco is similar but the prices are what keeps us shopping at BJ’s because of the coupons.