Dollar Tree divests 330 Family Dollar stores to Dollar Express

Chesapeake, Va.-based Dollar Tree Inc. and Sycamore Partners, a New York-based private equity firm specializing in consumer and retail investments, said 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 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.

"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."