That new competitor is a chain called DollarExpress, and three Memphis Family Dollar stores will be included in that sale. The stores located at 1945 South Third, 6195 Winchester, and 2252 Lamar. One Nashville Family Dollar is being sold to DollarExpress, as well. Sycamore Partners, the parent company of DollarExpress, will be re-branding those stores after the sale.
“One of our concerns about the merger was that it would substantially lessen competition in markets like Nashville and Memphis,” said Tennessee Attorney General Herbert Slatery III. “By requiring stores to be sold to a new company in the marketplace, that competition to offer the best prices and merchandise will remain.”
The Tennessee Attorney General’s Office worked with the FTC in conducting a national review of the $9.2 billion acquisition. Other states joining Tennessee in the lawsuit included Alabama, Florida, Indiana, Iowa, Maine, Maryland, Massachusetts, Mississippi, Missouri, Nebraska, Oklahoma, Pennsylvania, Utah, Vermont, Virginia, and West Virginia.
Family Dollar and Dollar Tree have merged, but because of concerns about lessening competition, the Federal Trade Commission (FTC) and 16 State Attorneys General (including the Attorney General for Tennessee) is requiring the discount chain to sell more than 300 Family Dollar stores across the country to a new competitor.