Savers Value Village, the largest for-profit thrift operator in the US and Canada, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $250 million.
Savers states that it is the largest for-profit thrift operator in the US and Canada. The company operates a total of 306 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.
The Bellevue, WA-based company was founded in 1954 and booked $1.1 billion in sales for the 12 months ended September 30, 2021. It plans to list on the NYSE under the symbol SVV. Savers Value Village filed confidentially on October 12, 2021. J.P. Morgan, Goldman Sachs, Jefferies, UBS Investment Bank, Baird, CIBC World Markets, Guggenheim Securities, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
