Leonard Green, TPG Pay $1.7B For Wash. Thrift Store Chain

Law360, New York (June 8, 2012, 7:30 PM EDT) -- Savers Inc. is bouncing from one private equity owner to another, having struck a $1.7 billion agreement with Leonard Green & Partners LP and TPG to recapitalize the Washington state thrift store chain, which has been controlled by Freeman Spogli & Co., according to an announcement Thursday.

Savers, the largest privately held thrift store chain in North America, has been doing $1 billion per year in sales since Spogli & Co. bought the company from another private equity firm, Berkshire Partners LLC, in 2006, according to...
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