A private equity firm has taken a 9.5% stake in BJ’s Wholesale Club and said it may propose taking the warehouse club operator private, according to reports.

The firm, Leonard Green & Partners, thinks BJ’s shares are undervalued and will talk with the company about taking it private, new financings and other options, Reuters wrote today (2 July).

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The move sent BJ’s shares up as much as 18% to a more than two year high, reaching US$43.83 a share.

Leonard Green & Partners also has investments in Whole Foods Markets, Rite Aid, Sports Authority, Davis’s Bridal, Neiman Marcus and the Container Store.

 

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