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Dollar Tree To Close 1,000 Family Dollar Stores
(Justin Sullivan/Getty Images)

Dollar Tree will sell struggling Family Dollar for $1 billion. It bought it for $9 billion.

Dollar Tree won a bidding war with Dollar General to buy Family Dollar in 2015.

J. Edward Moreno

Dollar Tree will sell its ailing brand Family Dollar after years of struggling to improve its operations.

Dollar Tree said Wednesday that it had reached a deal to sell Family Dollar for $1 billion to investment firms Brigade and Macellum. The company bought Family Dollar in 2015 for $9 billion.

Dollar Tree stock rose 2% on the announcement, even as it reported profit and sales estimates that missed Wall Street expectations. Shares are down more than 12% since the start of the year.

Dollar Tree has struggled to fix Family Dollar’s less-than-perfect operations. Last year, Family Dollar was fined $40 million by the Justice Department for having a rat-infested warehouse. At the same time, Dollar Tree has expressed wanting to court a higher-earning consumer.

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