21st century
In 2006, the company was purchased by Bain Capital Partners for $2.06 billion.[4] The Milstein family held almost 30 million shares of the Burlington Coat Factory Warehouse Corporation, making approximately $1.3 billion, and Monroe Milstein was unassociated with the business following the sale, although two of his sons, Stephen and Andrew, stayed on briefly.[5] Mark Nesci, the former executive vice president and chief operating officer, was named to serve as the acting CEO.[10] A holding company called Burlington Coat Factory Holdings Inc., was formed to be the ultimate parent of the chain.[11]
Monroe Gary Milstein died on May 9, 2025, in Bal Harbour, Florida.[12][13]
In July 2012, the company received a $40 million incentive from the New Jersey Economic Development Authority as part of the state's GrowNJ program in order to build a new headquarters in Florence, adjacent to its existing headquarters, keeping the company from moving its headquarters outside the state.[14]
On June 27, 2013, Burlington filed its S-1 registration statement with the SEC for an initial public offering.[15] In October 2013, the company's stock rose more than 40% on its first day of trading.[16] The company reported $4.35 billion in sales for the 12-month period ending August 3, 2013.[17] As of October 2013, the company operated 503 stores in 44 states and Puerto Rico under the names Burlington Coat Factory, Cohoes Fashions, Baby Depot, and MJM Designer Shoes.[18][19]
In 2016, Burlington Stores joined the Fortune 500 for the first time.[20] Tom Kingsbury served as the CEO from 2008 to 2018.[21]
In September 2019, Michael O’Sullivan joined Burlington as Chief Executive Officer. O’Sullivan came to Burlington from Ross Stores, an off-price retailer, where he worked for 16 years, rising to become their President and Chief Operating Officer in 2009.
Following the bankruptcy and closure of all Bed Bath & Beyond stores in the United States, Burlington purchased the leases for more than 40 closed locations in June 2023.[22] The following year, Burlington acquired the leases of 15 locations of the Texas-based retailer Conn's after their bankruptcy and store closings.[23]
