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Dollar Tree’s decade-long effort to fold the Family Dollar chain into its business is ending after agreeing to sell the bargain store chain to a pair of private equity firms for $1 billion.
Dollar Tree on Wednesday said it has reached a deal to sell its Family Dollar brand to a pair of private-equity firms for $1 billion.
Dollar Tree is ending its short-lived and ill-fated Family Dollar experiment, offloading the discount brand for $1 billion – just a fraction of its purchase price from a decade ago.
Dollar Tree said it has agreed to sell its Family Dollar division to a group of private equity firms in a deal valued at approximately $1 billion.
Dollar Tree is selling Family Dollar to a pair of private equity firms in a deal worth approximately $1 billion after unsuccessfully trying to incorporate it into its business for a decade.
Dollar Tree is selling Family Dollar to two private equity firms after the discount chain failed to gain traction with shoppers.
Investors are taking a positive view of Dollar Tree's sale of the flagging Family Dollar business and mixed fourth quarter results that depicted a stressed consumer.
Nearly 10 years after buying Family Dollar for about $9 billion, Dollar Tree announced it would sell the retailer to two private equity firms.