Effect Of Dollar Tree Buyout On Local Family Dollar Stores Unknown

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The fate of several north country Family Dollar stores and jobs remain up in the air as part of a planned buyout by rival Dollar Tree Incorporated.

Local Dollar Tree store officials in Ogdensburg declined comment on the sale and whether it will result in any job losses or store closures.

Dollar Tree operates four stores in St. Lawrence County, while Family Dollar has six locations in both St. Lawrence and Jefferson Counties and one in Lewis County.

In a corporate announcement on the acquisition posted on the Dollar Tree website, the merger will see more than 13,000 stores across 48 states and five Canadian provinces with annual sales expected to exceed $18 billion.

The boards of both companies have unanimously approved the deal, which is expected to close by early next year.

The buyout must still be approved by Family Dollar stockholders.
 

Saturday, December 20, 2014
, Watertown, NY

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