About
Family Dollar Stores, Inc. is an American variety store chain founded in 1959 by Leon Levine in Charlotte, North Carolina. With over 8,000 locations in all states except Alaska and Hawaii, it was once the second largest retailer of its type in the United States until it was acquired by Dollar Tree in 2015. Its headquarters operations were then moved from Matthews, North Carolina, to Chesapeake, Virginia. 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. Family Dollar, and dollar stores in general, have been alleged to create food deserts: areas with poor access to healthy and affordable food. Read more
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