Dollar Tree buying Canada’s Dollar Giant Store

Chesapeake, Va. Dollar Tree is buying Canada's Dollar Giant Store for about $52 million in cash.

The retailer said Monday that the deal includes 84 Dollar Giant Stores, including substantially all assets, inventory, leasehold rights and intellectual property.

"[This transaction] provides Dollar Tree with an outstanding platform for significant, profitable growth in the Canadian market," president and CEO Bob Sasser said in a statement.

Dollar Giant, based in Vancouver, offers a variety of general merchandise, seasonal goods and everyday items priced at $1.25 Canadian dollars ($1.24) or less.