Family Dollar
Family Dollar Stores, Inc. is an American variety store chain. With over 8,000 locations in all states except Alaska and Hawaii, it was the second largest retailer of its type in the United States until it was acquired by Dollar Tree in 2015 when its headquarters operations were moved from Matthews, a suburb of Charlotte, North Carolina, to Chesapeake, Virginia, located in South Hampton Roads.
Family Dollar store in Valdosta, Georgia | |
| Company type | Subsidiary |
|---|---|
Traded as | NYSE: FDO |
| Industry | Retail, Variety, Discount |
| Founded | November 1959 Charlotte, North Carolina, U.S. |
| Founder | Leon Levine |
| Headquarters | , United States |
Number of locations | 8,200 |
Area served | United States |
Key people | Gary Philbin (president & CEO) Howard R. Levine (chairman) |
| Products | Clothing, cleaning supplies, home decor, and grocery. |
| Revenue | US$ 10.489 billion (2014) |
Net income | US$ 284.5 million (2014) |
| Total assets | US$ 3.857 billion (2014) |
Number of employees | 59,330 |
| Parent | Dollar Tree (2015–present) |
| Website | FamilyDollar.com |
In June 2014, activist investor and major shareholder Carl Icahn demanded that Family Dollar be immediately put up for sale.
On July 28, 2014, Dollar Tree announced that it would buy Family Dollar for $8.5 billion. The sale delivered a windfall to the company's biggest shareholder, Carl Icahn, who had acquired his 9.4 percent stake in June 2014. On January 22, 2015, Family Dollar shareholders approved the Dollar Tree bid.