Family Dollar may see changes
Family Dollar locations in Covington County may soon see major changes after the struggling chain was acquired Monday by the Dollar Tree corporation for approximately $8.5 billion.
According to published reports, the acquisition is expected to create $18 billion in sales and makes Dollar Tree the most powerful player in the dollar store segment, pushing it past the Dollar General corporation.
“This is a transformational opportunity,” Dollar Tree CEO, Bob Sasser said in a statement to Forbes magazine. “This acquisition will extend our reach to lower-income customers and strengthen and diversify our store footprint. Combined, our growth potential is enhanced with improved opportunities to increase the productivity of the stores and to open more stores across multiple banners.”
In Covington County, Family Dollar stores have locations in both Opp and Florala, with the store in Andalusia having recently shut its doors.
As of Thursday, it was still not known whether local Family Dollar stores will change their signage to that of Dollar Tree stores, or will continue to operate under the Family Dollar name.