Family Dollar has just been bought, and the amount of the purchase is staggering.
The company was purchased 10 years ago for $8.5 billion by Dollar Tree, who just sold it for only $1 billion. That’s quite the loss.
According to The Washington Post, two private equity firms are buying the chain and all of its 7,000+ locations, as well as everything inside. Last year, Family Dollar said they would close roughly one thousand of their underperforming stores. This news seems to coincide with a downturn in sales.
Just the word that this purchase is happening — it’s about 90 days away from the deal being complete — has shot Family Dollar’s stock price up 4 percent.
It seems as if consumers still are aware of the Family Dollar name and the value that they offer, they just needed someone new to come in and right the ship before it sinks.
For the past year or so, there have been multiple Reddit threads about which Family Dollar stores are getting axed, so consumers know when to hit them for crazy sales. The goal here would be to get these same people in the doors when there aren’t going out of business sales.
Only time will tell what the two private equity firms plan to do with the remaining 7,600 or so Family Dollar locations, but they are likely hoping to do better than Dollar Tree did with their purchase of the brand in 2015.
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