DOLLAR TREE INC : Dollar Tree Completes Acquisition of Canadian Dollar Giant Stores
11/17/2010| 08:15am US/Eastern
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Dollar Tree, Inc. (NASDAQ: DLTR) today announced that it has completed
its purchase of the assets of the Dollar Giant Store (B.C.) Ltd. Under
the terms of the agreement, Dollar Tree acquired 86 Dollar Giant stores
including substantially all assets, inventory, leasehold rights and
intellectual property for approximately $52 million (USD) in cash, plus
the assumption of certain liabilities. This is Dollar Tree's first
expansion of its retail operations outside of the United States.
Based in Vancouver, British Columbia, Dollar Giant stores offer a wide
assortment of quality general merchandise, contemporary seasonal goods
and everyday consumables, all priced at $1.25 (CAD) or less. The stores
average 9,000 gross square feet and operate in British Columbia,
Ontario, Alberta and Saskatchewan.
?I am pleased to announce the completion of our acquisition of Dollar
Giant,? said Bob Sasser, President and CEO. ?We now have an outstanding
platform for significant expansion in Canada, with an experienced team
of management and associates. It is an exciting opportunity to offer
more value to more customers.?
Dollar Tree has a long record of consistent growth and excellent returns
to shareholders. The acquisition of Dollar Giant is part of the
Company's strategy to invest for continued profitable growth by
expanding its store base, improving store productivity and developing
new retail formats.
Dollar Tree, Inc. is the nation's leading operator of discount variety
stores selling everything for $1 or less. Dollar Tree, a Fortune 500
Company, operated 4,009 stores in 48 U.S. states as of October 30, 2010.
A WARNING ABOUT FORWARD LOOKING STATEMENTS: This press release contains
"forward looking statements" as that term is used in the Private
Securities Litigation Reform Act of 1995. Forward looking statements
address future events, developments or results and typically use words
such as believe, will, anticipate, expect, intend, plan, forecast,
outlook, or estimate. For example, our forward looking statements
include statements regarding the profitability and future of the
combined businesses. For a discussion of the risks, uncertainties and
assumptions that could affect our future events, developments or
results, you should carefully review the ?Risk Factors,? "Business," and
?Management's Discussion and Analysis of Financial Condition and Results
of Operations? sections in our Annual Report on Form 10–K, as amended,
filed March 19, 2010 and our Quarterly Reports on Form 10-Q filed May
20, 2010 and August 19, 2010. In light of these risks and uncertainties,
the future events, developments or results described by our forward
looking statements in this document could turn out to be materially and
adversely different from those we discuss or imply. We are not obligated
to release publicly any revisions to any forward looking statements
contained in this press release to reflect events or circumstances
occurring after the date of this report and you should not expect us to
do so.
Dollar Tree, Inc., Chesapeake
Timothy J. Reid
757-321-5284
www.DollarTree.com
© Business Wire 2010
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