Dollar Tree To Sell 330 Family Dollar Stores To Sycamore Partners Post Merger

(RTTNews) - Discount retailer Dollar Tree, Inc. (DLTR) said Friday that it has entered into a definitive agreement to sell private equity firm Sycamore Partners a divestiture package of 330 Family Dollar stores contingent on completion of Dollar Tree's pending acquisition of Family Dollar Stores, Inc. (FDO).

The 330 stores represent about $45.5 million of operating income for Family Dollar. Sycamore Partners plans to operate the 330 stores under the Dollar Express banner.

The planned divestiture enables Dollar Tree to address Federal Trade Commission concerns. Both the divestiture and the pending acquisition of Family Dollar remain subject to review by the FTC and satisfaction of other customary conditions.

Dollar Tree said it continues to make progress with the FTC and that ot plans to close the merger with Family Dollar in early July 2015 after securing FTC clearance.