Skip navigation
Private investor to buy 330 Family Dollar divestitures

Private investor to buy 330 Family Dollar divestitures

Dollar Tree said it has agreed to sell 330 stores to private equity firm Sycamore Partners in order to meet federal antitrust requirements of its deal to acquire Family Dollar Stores.

Sycamore, based in New York, said it would operate those stores under the Dollar Express banner. The stores, which are all currently Family Dollar stores, have an annual sales run rate of around $500 million and represent $45.5 million in operating income for Family Dollar.

Dollar Tree, Chesapeake, Va., said it intends to close the $8.5 billion takeover of Family Dollar next month. A sales price for the divesting stores was not disclosed.


CONNECT WITH SN ON TWITTER

Follow @SN_News for updates throughout the day.


Sycamore specializes in retail and consumer investments. The firm has more than $3.5 billion in capital under management and a portfolio including Aeropostale, Hot Topic and Talbots.

"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," Peter Morrow, a managing director at Sycamore, said in a statement. "We have a proven track record of retail success and an experienced leadership team. We are eager to better serve the needs of customers in these markets by providing an improved shopping experience."

Suggested Categories More from Supermarket News
TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish