Dollar Tree said Wednesday it is selling its Family Dollar division to a partnership of Brigade Capital Management and Macellum Capital Management for just over $1 billion.
Dollar Tree’s latest bargain is its own operations. The discount retail chain is handing its down-market Family Dollar brand to a group of private equity firms for the meager price of $1 billion. As the economy weakens,
Dollar Tree said more customers across incomes shopped at its stores in the latest quarter, a sign that concerns about the economy are giving the discount retailer a boost.