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Dollar Tree said it has agreed to sell its Family Dollar division to a group of private equity firms in a deal valued at approximately $1 billion.

Dollar Tree’s decade-long effort to fold the Family Dollar chain into its business is ending after agreeing to sell the bargain store chain to a pair of private equity firms for $1 billion.

By Connor Hart Dollar Tree logged higher profit and sales in its fiscal first quarter, boosted by increasing sales amid what the company called a rapidly evolving environment.

Several months after saying that it would consider selling Family Dollar, Dollar Tree on Wednesday said it would sell the business to two private equity firms for $1 billion.

How to Make 4 Family Dinners on Just $20, According to a Dollar Tree TikToker What started as a viral moment is now a movement for smarter grocery shopping.

Dollar Tree is selling Family Dollar to a pair of private equity firms in a deal worth approximately $1 billion after unsuccessfully trying to incorporate it into its business for a decade.