Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Regions Eastern Virginia Dollar Tree to acquire Family Dollar Stores

Dollar Tree to acquire Family Dollar Stores

Published July 28, 2014 by Robert Powell, III

Chesapeake-based Dollar Tree Inc. is acquiring Family Dollar Stores Inc. in a $8.5 billion deal that will create a company with 13,000 stores and $18 billion in annual sales.

“This is a transformational opportunity,” Bob Sasser, Dollar Tree's CEO, said in a statement. ”Throughout our history, we have strived continuously to evolve and improve our business. This acquisition, which enhances our footprint and diversifies our company, will enable us to build on that progression, and importantly, positions Dollar Tree for accelerated growth.”

Under the terms of the deal, Family Dollar shareholders will receive $74.50 for each share they own, including $59.60 in cash and $14.90 in Dollar Tree stock.  The price represents a 22.8 percent premium over Family Dollar's closing price on July 25.

The offer, totaling about $8.5 billion, includes $59.60 in cash and the equivalent of $14.90 in Dollar Tree shares for each Family Dollar share. When debt is included, the deal values Family Dollar at about $9.2 billion.

The combined company will operate 13,000 stores in 48 states and five Canadian provinces employing more than 145,000 workers. Dollar Tree now has 5,080 stores while Family Dollar, based in Matthews, N.C., has more than 8,200 stores.

Dollar Tree said the deal will broaden its reach. The company is the leadering operator of fixed-price point stores, selling merchandise for $1 or less. Family Dollar is a national operator of multi-price point stores for value-conscious consumers.

Dollar Tree targets a broad range of middle-class customers with stores located primarily in suburban areas, while Family Dollar targets low- and lower-middle income households through urban and rural locations.

Dollar Tree plan to finance the acquisition through a combination of existing cash on hand, bank debt and bonds. The deal is subject to approval by Family Dollar shareholders and customary closing conditions.

Related Stories

Virginia Business logo

Koster American breaks ground on expansion in Virginia Beach

Virginia Business logo

INIT to move and expand North American headquarters

Virginia Business logo

Wilmik to expand Virginia Beach headquarters

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk