BELLEVUE, Wash., March 7, 2011 /PRNewswire/ -- Savers, Inc., the international thrift store chain, announced today the company is purchasing 18 stores from Unique Thrift LLC. The acquisition further strengthens Savers' position as the leading for-profit thrift retailer, bringing its total number of stores to 270 across the U.S., Canada and Australia. The addition of the Unique Thrift stores increases Savers' reach in existing and new markets by expanding the company's presence in Minnesota, Missouri, Colorado, and adding stores for the first time in Maryland, Virginia and Kentucky. The financial terms of the transaction were not disclosed.
Savers has expanded over the last few years, and the company plans to open over 100 new stores in new and existing markets over the next five years. The acquisition of Unique Thrift's highly productive stores in the mid-Atlantic and Midwest regions aligns well with Savers' expansion strategy. Also known as Value Village in western U.S. states and Canada, and Village des Valeurs in Quebec, Savers, Inc. stores have a unique business model of purchasing, reselling and recycling donated items. Every location has a local nonprofit partner in its community, and each store pays its nonprofit partner for every secondhand item donated, including clothing, housewares, furniture and more. These partnerships turn otherwise unused goods into sustainable revenue that supports the nonprofits' programs and services in the local community. Last year Savers, Inc. paid $144 million dollars to its nonprofit partners and more than $1 billion over the past 10 years.
Unique Thrift stores also operate as "Valu Thrift" and "Value Village", and will continue to conduct business under their existing trade names. With a similar business model to Savers', there is significant opportunity for sharing best practices, as well as for continued store growth. Combined, Savers will employ a workforce of more than 15,000 and will be party to more than 140 nonprofit partnerships across North America and Australia.
"We are thrilled to welcome Unique Thrift to the Savers' family, and we know that our customers and team members will feel confident knowing that all our stores share the vision of doing good deeds and providing great deals," said Ken Alterman, President and CEO of Savers, Inc. "The synergy between Unique Thrift's and Savers' business philosophies will enable us to do even more for nonprofits and local communities."
Savers, Inc.'s acquisition of the Unique Thrift stores and its continued multi-national expansion coincides with the growth of the thrift retailing industry, which is one of the fastest growing retail segments. Lifestyle, economic and social trends have contributed to the growth of thrift shopping, including the popularity of do-it-yourself projects, renewed interest in vintage clothing, and importantly, environment- and budget-conscious consumers. Last year alone, Savers, Inc. kept more than 500 million pounds of unwanted items from ending up in landfills, making it one of the largest recyclers of used goods in the world. For more information about Savers, visit www.savers.com.
About Savers, Inc.
Founded in 1954, Savers, Inc. is a privately held for-profit international thrift store chain with 270 locations in the United States, Canada and Australia. Also known as Value Village in the western United States and Canadian provinces (and as Village des Valeurs in Quebec), the company employs more than 15,000 people. By purchasing and reselling donated items, Savers has paid more than $1 billion directly to its nonprofit partners – turning otherwise unused items into sustainable revenue that supports their nonprofit partners' programs and services. The company also offers local communities a smart way to shop and is one of the largest recyclers of used goods in the world. Visit www.savers.com or www.valuevillage.com for more information.
SOURCE Savers, Inc.