Savers Value Village, the largest for-profit thrift operator in the US and Canada, announced terms for its IPO on Tuesday.
The Bellevue, WA-based company plans to raise $300 million by offering 18.8 million shares at a price range of $15 to $17. New investors Healthcare of Ontario Pension Plan and Norges Bank have indicated on $130 million worth of shares in the offering (43% of the deal). At the midpoint of the proposed range, Savers Value Village would command a fully diluted market value of $2.8 billion.
Savers Value Village is the largest for-profit thrift operator in the US and Canada, operating a total of 317 stores under the Savers, Value Village, Village des Valeurs, Unique, and 2nd Ave banners. It provides one-of-a-kind, low-priced merchandise ranging from quality clothing to home goods with an average unit retail under $5. Savers purchases secondhand textiles, shoes, accessories, housewares, books, and other goods from our non-profit partners, either directly from them or via on-site donations at Community Donation Centers at its stores.
Savers Value Village was founded in 1954 and booked $1.5 billion in sales for the 12 months ended April 1, 2023. It plans to list on the NYSE under the symbol SVV. J.P. Morgan, Jefferies, Goldman Sachs, UBS Investment Bank, Baird, CIBC World Markets, Guggenheim Securities, Piper Sandler, B. Riley Securities, and KKR are the joint bookrunners on the deal. It is expected to price during the week of June 26, 2023.
