Dollar Tree Inks Deal for Canadian Chain
CHESAPEAKE, Va.--Dollar Tree has signed an agreement to purchase the assets of Dollar Giant Store, an off-price-store chain based in Vancouver, B.C.
The deal marks Dollar Tree's first expansion outside of the United States. Under the terms of the agreement, Dollar Tree would acquire 85 Dollar Giant stores along with substantially all of the assets, inventory, leasehold rights and intellectual property, all for about $52 million. A statement from Dollar Tree said the company expects the transaction to close in mid-November.
The Dollar Giant stores average about 9,000 square feet in space. They offer an assortment of general merchandise, contemporary seasonal goods and everyday consumables, all priced at $1.24 or less.