Update: Amazon is now out of the running for purchasing BJ's Wholesale club after Amazon bought Whole Foods for $13.7 billion dollars! It appears that BJ's Wholesale owners will be looking to sell to private firms again.
You can read the FULL article on this new update here.
Remember not too long ago when I shared that BJ's Wholesale club was up for sale? Today I read about Amazon and Walmart having an interest in purchasing this retail chain. Amazon is on a huge upward swing with expanding their stores to physical stores. Online shopping is even to blame for some other big retailers closing stores.
Six years ago BJ's Wholesale club which has 213 locations, was sold as private and now there is talk about it selling for a public outright sale.
Walmart made an unsuccessful approach to buy BJ's in 2011 and they may be interested again but according to The New York Post it will be unlikely.
Now as Amazon approaches more brick and mortar stores ( they talked about buying Whole Foods in the past) it is being reported they are showing interest in BJ's Wholesale Club. It makes sense that BJ's stores would be a great location for Amazon. To me it seems as though they would use BJ's locations for their brick and mortar stores.
Which means, BJ's Wholesale club could be completely gone? Would companies then just be selling to Amazon?
Here are other stores who are interested in purchasing BJ's as of now- Amazon, KKR, Bain Capital, TPG, Blackstone and Walmart.
Most likely this will be a very long drawn out process and something we have to wait and see for the next few quarters.
You can read the full story with income reporting and sale details here.
I am pretty anxious to see what is going to happen to BJ's Wholesale club! What are your thoughts on this?
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