Dollar Tree is selling Family Dollar to a pair of private equity firms for $1 billion. Dollar Tree Inc. acquired Family Dollar for more than $8 billion in 2015.
Dollar Tree is selling Family Dollar to a pair of private equity firms for $1 billion after a decade of trying to make its acquisition of the bargain chain fit.
Dollar Tree Inc. acquired Family Dollar for more than $8 billion in 2015 after a bidding war with rival Dollar General.
Dollar Tree last year announced that it planned to close hundreds of Family Dollar stores. The company also said at the time that it would record a $950 million impairment against the trade name Family Dollar, on top of a $1.07 billion goodwill charge.
Dollar Tree had been scouting options for Family Dollar for a while and said Wednesday that the sale to Brigade Capital Management and Macellum Capital Management will allow it to focus on its core business.
