Dollar Tree To Acquire Family Dollar Stores
Dollar Tree, Inc., a major operator of discount variety stores selling everything for $1 or less, and Family Dollar Stores, Inc. (FDO), a major national discount retailer offering name brands and private brand merchandise, announced a merger agreement on July 28.
The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close by early 2015.
“This is a transformational opportunity,” stated Bob Sasser, Dollar Tree’s chief executive officer. “With the acquisition of Family Dollar Stores, Dollar Tree will become a leading discount retailer in North America, with over 13,000 stores in 48 states and five Canadian Provinces, sales of over $18 billion, and more than 145,000 associates on our team. We will continue to operate under the Dollar Tree, Deals, and Dollar Tree Canada brands, and when this transaction is complete, we will operate under the Family Dollar brand as well. Throughout our history, we have strived continuously to evolve and improve our business. This acquisition, which enhances our footprint and diversifies our company, will enable us to build on that progression, and importantly, positions Dollar Tree for accelerated growth. By offering both fixed-price and multi-price point formats and an even broader, more compelling merchandise assortment, we will be able to provide even greater value and choice to a wider array of customers.”
Mr. Sasser added, “This acquisition will extend our reach to lower-income customers and strengthen and diversify our store footprint. We plan to leverage best practices across both organizations to deliver significant synergies, while we accelerate and augment Family Dollar’s recently introduced strategic initiatives. Combined, our growth potential is enhanced with improved opportunities to increase the productivity of the stores and to open more stores across multiple banners.”
Howard Levine, chief executive officer of Family Dollar, will remain with the company and, upon closing, will become a member of the Dollar Tree Board of Directors.
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Targets Opens Pilot Express Store Near College
Last week, Target opened a new store format, TargetExpress, near the University of Minnesota campus. The company’s smallest store, TargetExpress will serve students and urban guests living in nearby neighborhoods, and the store is 15 percent the size of a general merchandise Target store.
“This is an exciting opportunity to test and learn as we continue exploring new ways to meet our guests’ needs and exceed their expectations,” says John Griffith, executive vice president, of property development.
Mr. Griffith said the TargetExpress experience will be grounded in this research as well as learnings from the company’s CityTarget stores. For example, the checkout lane configuration will cater to high traffic and smaller basket size, as compared to a general merchandise store.
He said essential products will be front and center with products in beauty, pharmacy, grocery and commodities. Assortments will include smaller pack sizes and items geared toward instant consumption, like grab and- go sandwiches. The store will also include a variety of merchandise not found at other quick-trip stores, including: a curated assortment in home and, electronics and; seasonal offerings, as well as a “Fan Central” area featuring University of Minnesota-specific merchandise.
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Rastelli Foods Group Opens Market Fresh Store in Marlton, N.J.
Rastelli Food Group, specializing in the processing of gourmet meats and international distribution, recently opened a Rastelli Market Fresh, a 35,000-square-foot location in Marlton, N.J.
“Rastelli Market Fresh is incredibly unique. The new Marlton location seamlessly combines the staples of an upscale grocer – including premium meats and seafood – with the delicacies of a specialty store ranging from artisan cheese and gourmet coffee blends to a juice bar,” said Catering Director Brittany Rastelli. “The comprehensive wine and spirits collection, a myriad of made-to-order entrees and full-service catering options really round out our offerings.”
The Marlton location offers a variety of local produce, a sushi and raw bar, brick oven pizzeria, custom sandwich counter, taqueria, wok bar, pasta sauté station and salad bar.
Operated by brothers, Ray and Tony Rastelli, Rastelli Foods Group has grown into a full-scale food service provider and meat processor with distribution to more than 80 countries and a national gourmet foods home delivery program.
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Latest Word in New Channels...
• That’s How We Roll, LLC Co-Founder Jason Cohen received the Ernst & Young Entrepreneur of the Year 2014 Award in the Excellence in Emerging category in the New Jersey region. In 2011, Mr. Cohen launched his third successful food venture. After selling his first two companies, Mamma Says and Sensible Portions, to large, publicly traded companies, Mr. Cohen launched Rickland Orchards, a Greek yogurt snack brand that was sold to B&G Foods, Inc. in October 2013. Mr. Cohen is also a partner in Skinny Pop Popcorn and Party ‘Tizers Dippin’ Chips.
• KonaRed Corp., manufacturers of antioxidant Juices and nutritional supplements from the Hawaiian CoffeeBerry coffee fruit from Kona, Hawaii, announced expansion into the New York metropolitan area via Preferred Beverage Distributors. Preferred Beverage distributes in the five New York City boroughs as well as Nassau, Suffolk and Westchester counties.
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