The Federal Trade Commission gave a private equity firm approval to sell to Dollar General 323 stores that Sycamore purchased as part of a divestiture package two years ago, the agency said last week.
Sycamore Partners bought the stores in 2015 when Dollar Tree was forced to sell shops in 35 states to win antitrust approval to buy the Family Dollar chain in what was then a $9.2 billion deal.
Sycamore, which had created Dollar Express to run the business, asked the FTC to approve the stores’ transfer to competitor Dollar General in March and said in a document filed with the FTC that the chain could “no longer viably operate as a standalone business.”
Sycamore blamed the economic woes on an overall decline in dollar store business, tough competition from Dollar Tree, wage inflation and other costs, according to the document.
Full Content: Nashville Post
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI