You are here
Dollar Tree Inc. has inked a deal to sell 330 Family Dollar locations to private equity firm Sycamore Partners, as part of the FTC regulatory issues associated with Dollar Tree's pending acquisition of Family Dollar Stores Inc.
Sycamore Partners intends to operate the 330 stores under the Dollar Express banner, the companies said today.
“The divestiture presents Sycamore Partners with a unique opportunity to continue their track record of meaningful growth and successful retail investments,” said Bob Sasser, CEO of Chesapeake, Va.-based Dollar Tree.
“We look forward to drawing on our extensive experience with similar corporate carve-outs in acquiring and operating this attractive portfolio of 330 stores, which have an annual run-rate of approximately $500 million in sales," said Peter Morrow, a managing director at Sycamore Partners.
In July, Dollar Tree Inc. reached an agreement to buy Matthews, N.C.-based Family Dollar Stores Inc. for $8.5 billion, or $74.50 per share. The deal remains subject to review by the FTC and satisfaction of other customary conditions.
Dollar Tree Inc. operates 5,454 stores in 48 states and five Canadian Provinces.