Dollar Tree Completes Divestiture of 330 Family Dollar Stores to Dollar Express
November 02 2015 - 4:15PM
Business Wire
Dollar Tree, Inc. (NASDAQ: DLTR), the nation’s leading operator
of discount variety stores selling everything for $1 or less, and
Sycamore Partners, a private equity firm specializing in consumer
and retail investments, today announced that they have completed
the transaction pursuant to which Dollar Tree divested 330 Family
Dollar stores to Dollar Express LLC, a portfolio company of
Sycamore Partners. The divestiture satisfied a condition as
required by the Federal Trade Commission in connection with Dollar
Tree’s recently-completed acquisition of Family Dollar Stores, Inc.
The stores will operate under the Dollar Express banner.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20151102006479/en/
“We are pleased to have completed this acquisition, which adds
to our growing portfolio of leading retailers and consumer brands,”
said Peter Morrow, a Managing Director at Sycamore Partners. “We
look forward to operating these 330 stores as Dollar Express, a
brand new, nationwide discount retailer that is well-positioned as
an innovator in the market. We believe our significant experience
with carve-out transactions will be beneficial in supporting the
Dollar Express team to serve our loyal customers and create
value.”
About Dollar Tree, Inc.
Dollar Tree, Inc., a Fortune 500 Company, operated 13,864 stores
in 48 states and five Canadian Provinces as of August 1, 2015, with
total retail selling square footage of 108.2 million. To learn more
about the Company, visit www.DollarTree.com.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York
specializing in consumer and retail investments. The firm has more
than $3.5 billion in capital under management. The firm's strategy
is to partner with management teams to improve the operating
profitability and strategic value of their businesses. The firm's
investment portfolio currently includes Aeropostale, Coldwater
Creek, Dollar Express, EMP Merchandising, Hot Topic, the Kasper
Group, Kurt Geiger, MGF Sourcing, Nine West Holdings, Pathlight
Capital, Talbots, and Torrid.
Forward Looking
Statements
Certain statements contained herein are “forward-looking
statements” that are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements and information about Dollar Tree’s
current and future prospects and its operations and financial
results are based on currently available information. Various
risks, uncertainties and other factors could cause actual future
results and financial performance to vary significantly from those
anticipated in such statements. The forward looking statements
contained herein include certain plans, activities or events which
Dollar Tree expects will or may occur in the future and relate to,
among other things, future financial and operating results of the
divested stores.
The forward-looking statements made by Dollar Tree, in this and
in other documents or statements are qualified by factors, risks
and uncertainties, including, but not limited to, those set forth
under the headings titled “A Warning About Forward-Looking
Statements” and “Risk Factors” in Dollar Tree’s Annual Report on
Form 10-K for the fiscal year ended January 31, 2015 and Dollar
Tree’s Quarterly Report on Form 10-Q for the quarter ended August
1, 2015, and other reports filed by Dollar Tree with the SEC, which
are available at the SEC’s website http://www.sec.gov.
Please read Dollar Tree’s “Risk Factors” and other cautionary
statements contained in its filings. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Dollar Tree undertakes no
obligation to update or revise any forward-looking statements, even
if experience or future changes make it clear that projected
results expressed or implied in such statements will not be
realized, except as may be required by law. As a result of these
risks and others, actual results could vary significantly from
those anticipated herein, and Dollar Tree’s financial condition and
results of operations could be materially adversely affected.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151102006479/en/
Investors/Media
Contacts:Dollar
Tree:Randy GuilerDollar Tree, Inc.(757)
321-5284orSycamore
Partners:Michael Freitag or Arielle RothsteinJoele
Frank, Wilkinson Brimmer Katcher(212) 355-4449
Dollar Tree (NASDAQ:DLTR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dollar Tree (NASDAQ:DLTR)
Historical Stock Chart
From Apr 2023 to Apr 2024