Dollar Tree Acquires Family Dollar

Dollar Tree (Chesapeake, Va.) announced that it has officially closed on its purchase of the Family Dollar (Charlotte, N.C.) chain of stores.  The $9.1-billion acquisition took nearly a year to finalize.

As a part of the deal, federal regulators have required Dollar Tree to sell 330 of the Family Dollar stores within 150 days of the deal’s close for competitive reasons. The stores that remain will continue to operate under the Family Dollar name. As a merged company, it will operate 1300 stores throughout the U.S., more than any other dollar-store chain in the country.

According to The Charlotte Observer, Family Dollar’s CEO, Howard Levine, will continue in that role over Family Dollar for the next two years and will report to Dollar Tree’s CEO, Bob Sasser, who will oversee the combined companies.