In a move to position itself better against Walmart, Dollar Tree acquires Family Dollar.
Dollar Tree, operator of discount variety stores selling everything for $1 or less acquires Family Dollar Stores for a deal valued at $8.5 Billion. Dollar Stores is a national discount retailer offering name brands and quality, private brand merchandise.
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"This is a transformational opportunity," stated Bob Sasser, Dollar Tree's Chief Executive Officer. "With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America, with over 13,000 stores in 48 states and five Canadian Provinces, sales of over $18 billion, and more than 145,000 associates on our team. We will continue to operate under the Dollar Tree, Deals, and Dollar Tree Canada brands, and when this transaction is complete, we will operate under the Family Dollar brand as well."
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Walmart sure will take notice about this deal. They try to be the one store for every American.