Why bother selling out to Amazon (AMZN) for a lowball number when you can cash in with a hot IPO.
With equities markets still on solid footing and recent IPOs such as Dropbox (DBX) and Spotify (SPOT) being well-received, it would make sense for BJ’s Wholesale to rejoin the public markets. According to The Wall Street Journal the wholesaler — owned by private equity firms Leonard Green and CVC Partners since 2011 — has filed confidential papers for an IPO. The IPO could happen as early as May, says the WSJ.
A BJ’s Wholesale spokeswoman did not immediately return a request for comment.
“The U.S. retail business is healthy, vibrant and growing,” BJ’s Wholesale CEO Chris Baldwin told TheStreet in January. When asked about his appetite to take the company public, Baldwin left the door open. “Our private equity owners have been great stewards of our brand, our business has been performing very, very well — so we have a variety of options.”