Dollar Tree to sell 330 Family Dollar stores as it seeks approval of $8.5 billion acquisition

IndustriesAssociated Press

Dollar Tree says it expects to reach a deal in the coming days to sell about 330 Family Dollar stores in order to receive approval of its $8.5 billion takeover of Family Dollar.

The dollar-store chain did not name the possible buyer for the Family Dollar stores or which locations would be sold. The Federal Trade Commission is requiring Dollar Tree to sell the stores.

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Even after selling the stores, a combination of Dollar Tree and Family Dollar would create the largest dollar store company in the country with more than 13,000 stores. Chesapeake, Virginia-based Dollar Tree currently operates 5,450 stores and Family Dollar, based in Matthews, North Carolina, has more than 8,000.

Dollar Tree Inc. now expects its acquisition of Family Dollar Stores Inc. to close in early July.