(Chesapeake, Va.) – Dollar Tree Inc. announced today that it is purchasing its national competitor Family Dollar Stores, Inc. The transaction has been unanimously approved by both companies’ boards of directors. According to national news reports, the purchase amounts to $8.5 billion.
“This is a transformational opportunity,” stated Bob Sasser, Dollar Tree’s Chief Executive Officer, in a news release. “With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America, with over 13,000 stores in 48 states and five Canadian Provinces, sales of over $18 billion, and more than 145,000 associates on our team. We will continue to operate under the Dollar Tree, Deals, and Dollar Tree Canada brands, and when this transaction is complete, we will operate under the Family Dollar brand as well.”
Despite Sasser’s statement that the Family Dollar brand will continue, it is unclear whether or not some will transition to the Dollar Tree brand or not. “Dollar Tree intends to retain and to grow each of its brands and the Family Dollar brand going forward and will optimize the combined real estate portfolio,” the news release states.
There are 24 Family Dollar locations in Wyoming, including stores in Riverton, Lander and Dubois. There is currently one Dollar Tree in Fremont County, located on North Federal in Riverton.