Chesapeake, VA-based Dollar Tree announced Monday that it would acquire Matthews, NC-based Family Dollar for a whopping $8.5 billion, CNNMoney reports.
Combined, Dollar Tree and Family Dollar have more than 13,000 stores and annual revenues of $18 billion, propelling the combined company ahead of current dollar store leader Dollar General which operates 11,000 stores and has $17.5 billion in revenue.
Wait a minute. Did I say “become one”?
Officials with Dollar Tree say in a news release that the company will continue to operate under both brands when the merger is completed in early 2015.
It’s a bit startling to discover that three “dollar store” chains sold 35 billion dollars worth of stuff last year, about 20 percent more than, say, Macy’s.