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file | filename |
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8-K - FORM 8-K - BJS WHOLESALE CLUB INC | d237528d8k.htm |
EX-3.1 - AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF THE COMPANY - BJS WHOLESALE CLUB INC | d237528dex31.htm |
EX-3.2 - AMENDED AND RESTATED BY-LAWS OF THE COMPANY - BJS WHOLESALE CLUB INC | d237528dex32.htm |
Exhibit 99.1
News | ||
FOR IMMEDIATE RELEASE
LEONARD GREEN & PARTNERS AND CVC COMPLETE
ACQUISITION OF BJS WHOLESALE CLUB, INC.
WESTBOROUGH, Mass. September 30, 2011 BJs Wholesale Club, Inc. (NYSE: BJ) (BJs or the Company) today announced the completion of its acquisition by Beacon Holding Inc. (an affiliate of Leonard Green & Partners, L.P. (LGP) and funds advised by CVC Capital Partners (CVC)), for $51.25 per share in cash, without interest and less any applicable withholding taxes, pursuant to a merger agreement by and between the Company, Beacon Holding Inc. and Beacon Merger Sub Inc. (a wholly-owned subsidiary of Beacon Holding Inc.), dated June 28, 2011.
The transaction was approved by the Companys stockholders at a special meeting of stockholders held on September 9, 2011. BJs common stock will be delisted from the New York Stock Exchange prior to the opening of business on Monday, October 3, 2011.
Stockholders who hold shares through a bank or broker will not have to take any action to receive the merger consideration, as the exchange of their shares for the merger consideration will be handled by the bank or broker. Stockholders who hold stock certificates will receive a letter of transmittal with instructions regarding delivery of their shares to the Companys exchange agent, American Stock Transfer & Trust Company, LLC.
About BJs Wholesale Club
BJs introduced the wholesale club concept to New England in 1984 and has since expanded to become a leading warehouse chain in the eastern United States. BJs Wholesale Club operates 190 warehouse clubs in 15 states.
About Leonard Green & Partners, L.P.
LGP is a leading private equity firm with over $9 billion of equity capital under management. Based in Los Angeles, LGP invests in market leading companies across a range of industries. Significant current retail investments include J. Crew, Jo-Ann Stores, Whole Foods Market, Neiman Marcus Group, PETCO Animal Supplies, Leslies Poolmart, The Sports Authority, The Container Store, Tourneau, Davids Bridal, Jetro Cash & Carry and The Tire Rack.
-More-
BJs Wholesale Club, Inc.
September 30, 2011
Page 2
About CVC Capital Partners
CVC is one of the worlds leading private equity and investment advisory firms, with a network of 20 offices and over 230 employees throughout Europe, Asia and the United States. CVC funds seek to identify attractive investments and then develop sustainable, long-term value in close partnership with management teams. To date, CVC has raised over $44 billion from a diverse and loyal investor base and is currently investing from funds with an aggregate of over $10 billion in available equity capital.
Since its founding in 1981, CVC has completed over 280 investments in a wide range of industries and countries. CVCs current retail investments in the U.S. include Pilot Flying J and Leslies Poolmart.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
Certain matters discussed in this press release may constitute forward-looking statements that are based on the Companys current expectations, but actual results may differ materially due to various factors. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties. Many of these factors are beyond the Companys ability to control or predict. For additional information about the factors that affect the Companys business, see the Companys Annual Report on Form 10-K for the year ended January 29, 2011 and its most recent quarterly report filed with the SEC. LGP, CVC and the Company disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
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Contacts:
For BJs Wholesale Club: Cathy Maloney, VP Investor Relations, 774-512-6650
For CVC: Mary Zimmerman or Christina Stenson, Brunswick Group, 212-333-3810
For LGP: Michael Gennaro, Chief Operating Officer, 310-954-0414