06:50 AM EDT, 03/26/2025 (MT Newswires) -- Dollar Tree ( DLTR ) said Wednesday that it agreed with Brigade Capital Management and Macellum Capital Management to sell its Family Dollar business for $1.01 billion.

The company said that after evaluating various options, it determined that selling Family Dollar to Brigade and Macellum would unlock the value for its shareholders best.

The deal is expected to close in the second quarter of 2025, the company said, adding that Family Dollar will continue to be headquartered in Chesapeake, Virginia.

Shares of the company rose to 6.5% in recent premarket activity.