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Dollar Tree divests 330 Family Dollar stores

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CHESAPEAKE, Va. — Dollar Tree Inc. announced Monday that it has sold 330 Family Dollar stores, a divestiture required by the Federal Trade Commission in connection with Dollar Tree’s recently-completed acquisition of Family Dollar Stores Inc.

Dollar Tree Inc. announced Monday that it has sold 330 Family Dollar stores, a divestiture required by the Federal Trade Commission in connection with Dollar Tree’s recently-completed acquisition of Family Dollar Stores Inc.

The stores were sold to Dollar Express LLC, a company created and owned by the private equity firm Sycamore Partners. The stores will operate under the Dollar Express banner.

"We are pleased to have completed this acquisition, which adds to our growing portfolio of leading retailers and consumer brands," said Sycamore Partners managing director Peter Morrow. "We look forward to operating these 330 stores as Dollar Express, a brand new, nationwide discount retailer that is well-positioned as an innovator in the market. We believe our significant experience with carve-out transactions will be beneficial in supporting the Dollar Express team to serve our loyal customers and create value."

Sycamore Partners says its strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses. In addition to Dollar Express, the firm’s investment portfolio includes such retailers as Aeropostale, Coldwater Creek, Hot Topic, Nine West Holdings and Talbots.
 

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