Dollar Tree to sell 330 Family Dollar stores to Sycamore Partners
By Reuters
May 29, 2015 06:57 PM EDT
Regions
A Family Dollar store is seen in Chicago, June 25, 2012. (Photo : Reuters)
Discount retailer Dollar Tree Inc (DLTR.O) agreed to sell 330 Family Dollar Stores Inc (FDO.N) stores to private equity firm Sycamore Partners to get antitrust approval for its $8.5 billion takeover of Family Dollar.
Dollar Tree said the stores represent about $45.5 million of operating income for Family Dollar, adding that Sycamore intends to operate the stores under the Dollar Express banner.
Dollar Tree said in April it identified about 340 stores for divestiture.
The pending acquisition and divestiture remain subject to the Federal Trade Commission's clearance.
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