Nearly a dozen local Family Dollar Stores will become a different discount retailer as part of the agreement Dollar Tree reached to settle Federal Trade Commission charges over its planned acquisition of its North Carolina-based competitor.
Five Family Dollar (Nasdaw: DLTR) locations in Philadelphia, and single stores in Upper Darby, Yeadon, Lansdowne, Levittown, Morrisville and Allentown, will be sold to Sycamore Partners, a private equity firm, according to the FTC.
For the Chesapeake, Virginia-based Dollar Tree's $9.2 billion acquisition of Matthews, North Carolina-based Family Dollar (Nasdaq: FDO) to go through, the FTC required the 11 area stores to be sold, along with another 319 locations nationwide, to help preserve competition in the discount merchandise retail sector.
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