WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) announced April 27 that, following a 15-day public comment period, it had approved Sycamore Partners II LP’s application to sell to Dollar General Corporation the assets it acquired under a 2015 FTC settlement.
In that settlement, the FTC mandated that Dollar Tree divest 330 stores to complete its acquisition of Family Dollar Stores Inc. Dollar Tree selected Sycamore as the buyer, which the commission approved. Sycamore formed a new company, Dollar Express LLC to operate the stores, but “can no longer operate as a viable standalone business,” due to changes in competitive conditions since the purchase. It therefore sought to sell those stores to Dollar General. The company additionally asked to shorten the FTC public comment period from 30 days to 15 days.
The FTC voted 2-0 to approve the application and response to comments. Dan Ducore from the Bureau of Competition is the staff contact for the case.