Two Charlotte Family Dollar stores will be converted into Dollar Express stores as part of Dollar Tree’s acquisition of the Matthews-based retailer. The deal is expected to close Monday.
One store is at 1437 E. Sugar Creek Road, near Eastway Drive in east Charlotte, just over a mile from a Dollar Tree store on The Plaza. The other is at 5300 South Blvd., near Tyvola Road and less than a quarter mile from the Dollar Tree store on South Boulevard.
The two Charlotte stores are the only two in North Carolina that will be converted into Dollar Express stores. When contacted by the Observer, managers at both stores said they were aware of the change but were unsure of other details, including when it will occur.
Last week, federal regulators approved the $8.5 billion sale of Family Dollar to Dollar Tree, marking one of last steps necessary to complete the deal.
The Federal Trade Commission is requiring Dollar Tree to sell 330 Family Dollar locations across 35 states to address regulators’ antitrust concerns. The sale of the stores must be completed within 150 days, the FTC said.
“Without a remedy ... the acquisition is likely to lessen competition by eliminating direct competition between Dollar Tree and Family Dollar, and increasing the likelihood that Dollar Tree will unilaterally exercise market power,” the FTC wrote in a statement last week.
New York private equity firm Sycamore Partners, which is buying the divested Family Dollar stores, has said it will operate them under the banner Dollar Express.
Sycamore Partners hasn’t said much about the Dollar Express brand, though analysts have said it’s likely store employees will keep their jobs after the switch.