TZP Group Leads Majority Recapitalization of America's Thrift Stores

NEW YORK, Feb. 15, 2022 -- TZP Group LLC announced it has led a recapitalization of America's Thrift Stores, a leading secondhand retailer operating 24 stores throughout the Southeast United States with an emerging e-commerce operation. TZP partnered with Nuveen Global Impact Fund to support the company's growth within the circular economy sector.

Paul Davis, Partner at TZP, commented on the investment rationale: "America's Thrift has an excellent reputation for serving its communities, both through its retail locations and via its charitable network." He added that TZP looks forward to working with management to expand into new markets and strengthen the company's donation network.

Founded in 1984, America's Thrift accepts gently used clothing and household goods for resale. The company operates a network of over 2,500 donation sites across the Southeast and has developed a data-driven approach to procuring and reselling donated goods. The company partners with charity organizations, contributing financially to their planning needs.

Jonathan Tanenbaum, Principal at TZP, noted the firm's strategic focus: "We see tremendous opportunity for secondhand resale and believe ATS is a leader in the category."

Ken Sobaski, CEO of America's Thrift, expressed enthusiasm for the partnership, stating the firms share "common values and principles that will set us up well for success."