Savers Value Village, Inc., the largest for-profit thrift operator in the U.S. and Canada, has announced the initiation of a secondary public offering of 15 million shares of common stock. These shares are being offered by certain funds and accounts managed by Ares Management LLC and the company's CEO. Additionally, the Ares Selling Stockholders have granted underwriters a 30-day option to purchase an extra 2.25 million shares. Concurrently, Savers Value Village has authorized a $20 million share repurchase from the underwriters, funded by its existing cash reserves. The company itself will not sell any shares or receive proceeds from this offering, which will be managed by J.P. Morgan, Jefferies, Goldman Sachs & Co. LLC, and UBS Investment Bank.
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