Dollar General Corporation acquired 322 Dollar Express Store Locations (former Family Dollar stores), a transaction completed in June 2017. The deal was a Asset purchase.
322 Dollar Express Store Locations (former Family Dollar stores) operates in Small-box discount retail — store real estate and leases, is based in United States — 36 states. In June 2017 Dollar General completed the acquisition of 322 store locations across 36 states from a small-box, multi-price-point retailer — the former Dollar Express stores, which had operated ex-Family Dollar sites divested during the Dollar Tree/Family Dollar merger. The Federal Trade Commission cleared the transaction in April 2017. Dollar General treated most of the sites as incremental to its planned 2017 new-store openings and aimed to convert them to the Dollar General banner by the end of November 2017. The company recorded charges related to the deal, primarily lease-termination costs.
Acquiring the locations expanded Dollar General's small-box footprint quickly, with most sites incremental to its organic 2017 store-opening plan.
Dollar General store base (converted to the Dollar General banner)
These figures assume the closing of the pending acquisition of 322 store locations in 36 states from a small-box multi-price point retailer, most of which are expected to be incremental to 2017 new store openings. The transaction, which was approved by the Federal Trade Commission in April 2017, is expected to close during June 2017 subject to customary closing conditions.Dollar General, Q1 FY2017 Form 10-Q (Executive Overview)
Advisory firms were not disclosed for this transaction.