By Talbert Toole
Lifestyles Editor
talbert.toole@hottytoddy.com
Family Dollar—located on University Avenue behind Oby’s—transitioned into Dollar Tree Wednesday after the company announced the closing of 390 stores in the 2019 fiscal year across the nation earlier this month.
The parent company Dollar Tree acquired Family Dollar in 2015 after outbidding its rival Dollar General, according to businessinsider.com.
The business is set to renovate 1,000 of its stores, however, CNBC reported.
The Family Dollar stores that are receiving renovations will sell alcohol and include a $1 Dollar Tree merchandise section. Four hundred of those renovated stores will expand to include freezer and cooler sections, and it will also rebrand about 200 Family Dollar stores to the Dollar Tree brand including the one on University Avenue.
After the acquisition of Family Dollar in 2015, Chief Executive Officer Bob Sasser stated in a press release that it was a transformational opportunity for “the business to offer broader, more compelling merchandise assortments, with greater values, to a wider array of customers.”
“This acquisition will extend our reach to low-income customers while strengthening and diversifying our footprint,” Sasser stated.
For more information on the Dollar Tree, Family Dollar acquisition, reference the company’s 2015 press release.
