323 Dollar Express stores to be sold to Dollar General
Our nation’s dollar store chains are no strangers to mergers and acquisitions.
Back in 2015, we got word that Dollar Tree would acquire Family Dollar in an acquisition that was ultimately completed last year.
In order to allay anti-competitive fears, the Federal Trade Commission (FTC) required Dollar Tree to sell 323 Family Dollar stores to private equity firm Sycamore Partners.
Those 323 Family Dollar stores were then re-branded as Dollar Express locations by the private equity firm in November 2015.
Now Sycamore has struck a deal with Dollar General for the dollar-store chain to buy those 323 stores operating across 36 states — pending regulatory approval.
Here’s a map of the stores:
Clark.com reached out to Dollar General’s media relations department for comment and received the following:
“I can confirm that we’ve reached a definitive agreement with Dollar Express LLC to acquire all 323 of Dollar Express’s store locations,” spokeswoman Crystal Ghassemi said. “The transaction is subject to customary closing conditions and approval by the FTC. Terms of the transaction are not being disclosed.”
As per the FTC, a 15-day public comment period is now open for those who want to weigh in on Sycamore’s application to sell the stores to Dollar General. Public comments may be submitted until April 20, 2017.