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Dollar Tree selling Family Dollar to a pair of private equity firms for $1 billion
Dollar Tree is selling Family Dollar to Brigade Capital Management and Macellum Capital Management for $1 billion after struggling to integrate the chain into its business.
Dollar Tree acquired Family Dollar for over $8 billion in 2015, facing challenges with supply chain issues and poor store locations.
Neil Saunders, Managing Director of GlobalData, noted that Dollar Tree's efforts were hampered by pricing strategies not as sharp as its rivals'.
Interim CEO Michael Creedon expressed excitement about returning to Dollar Tree's roots with the sale of Family Dollar.