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Private equity firm to buy 330 Dollar Tree stores


Dollar Tree has agreed to sell 330 of its stores to the private-equity firm Sycamore Partners in order to get regulatory approval for its $8.5 billion purchase of Family Dollar.

Sycamore Partners intends to operate the 330 stores, which represent approximately $45.5 million of operating income for Family Dollar, under the Dollar Express banner.

"We look forward to drawing on our extensive experience with similar corporate carve-outs in acquiring and operating this attractive portfolio of 330 stores, which have an annual run-rate of approximately $500 million in sales," said Peter Morrow, a managing director at Sycamore Partners. “We have a proven track record of retail success and an experienced leadership team."

Dollar Tree said the divestiture enables it to address Federal Trade Commission concerns regarding its acquisition of Family Dollar. The company said it continues to make progress with the FTC, and intends to close the merger with Family Dollar in early July 2015 after securing FTC clearance.

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