Inside This Issue - News
Dollar Tree to buy Canadian chain
October 18th, 2010
CHESAPEAKE, Va. – Dollar Tree Inc. has signed a definitive agreement to purchase Dollar Giant Store Ltd., a Vancouver, British Columbia-based chain of 85 stores that operates in British Columbia, Ontario, Alberta and Saskatchewan.
The $52 million ($53.4 million U.S.) acquisition deal marks Dollar Tree’s first venture outside of the United States.
“I am excited about the opportunity to expand our presence into Canada,” says Bob Sasser, president and CEO. “Dollar Giant is an excellent fit for us. This acquisition will enable us to further leverage our resources and infrastructure to offer more value to more customers. It provides Dollar Tree with an outstanding platform for significant, profitable growth in the Canadian market.”
Sasser says that little will change at Dollar Giant, and he expects the current management team and store personnel to remain in place.
“They are one of the key reasons for my confidence about our future success in Canada,” Sasser says.
It is anticipated that the deal will be completed by mid-November.