Dollar Tree is selling Family Dollar to private equity firms Brigade Capital Management and Macellum Capital Management for $1 billion.
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00:00Dollar Tree is selling Family Dollar to private equity firms Brigade Capital
00:03Management and McKellan Capital Management for a billion dollars after
00:08struggling for a decade to make the acquisition work. Dollar Tree bought
00:11Family Dollar for over eight billion dollars in 2015 after a bidding war with
00:16Dollar General but faced ongoing supply chain and operational challenges. Last
00:21year Dollar Tree announced plans to close hundreds of Family Dollar stores
00:25and recorded nearly two billion dollars in charges related to the brand. CEO
00:29Mike Creeden said the sale will help Dollar Tree focus on its core business
00:33and improve performance.