Savers Value Village, the largest for-profit thrift store operator in the US and Canada, raised $401 million by offering 22.3 million shares (16% secondary) at $18, above the range of $15 to $17. The company had originally planned to offer 18.75 million shares (100% primary); the additional shares offered are all from private equity backer Ares. Healthcare of Ontario Pension Plan and Norges Bank had indicated on $130 million (32%) of the IPO.
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 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, and Piper Sandler acted as joint bookrunners on the deal.
