Ollie’s Prepares for IPO

Ollie's Bargain Outlet (Harrisburg, Penn.) is preparing for an initial public offering, reports Women’s Wear Daily.

The deep-discount retailer, which is owned by ceo Mark Butler and private equity firm CCMP Capital Advisors LLC, is working with investment banks JPMorgan Chase & CO, Bank of America Corp and Jefferies LLC on a potential IPO, which is expected later this year, according to people familiar with the matter.

Founded in 1982, Ollie's has 176 retail stores in the U.S. CCMP and Ollie's management acquired their stake in 2012 in a deal that valued the company at about $700 million, according to Moody's.