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Family Dollar
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Family Dollar
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. In 2022, Family Dollar was sued by the Arkansas Attorney General following an investigation by the FDA into a rat infestation at its West Memphis, Arkansas, distribution center. The lawsuit ended in a $41 million fine to the company and the temporary closure of 400 stores.
In 2024, Dollar Tree, Family Dollar's parent company, announced that it would consider a potential spin-off or sale of the Family Dollar brand.
On March 26, 2025, Dollar Tree announced that it would sell its Family Dollar business for $1 billion. The sale was completed on July 7, 2025.
Family Dollar was founded in 1959 by Leon Levine, a 21-year-old entrepreneur. In November of that year, the company's first store was opened, in Charlotte, North Carolina. In 1961, their first store in South Carolina opened, followed by stores in Georgia and Virginia, which were opened in 1962 and 1965, respectively. During the 1960s, the store company was largely a southern United States operation. By 1969, there were fifty stores in Charlotte alone.
The 1970s were growing years for the store chain. In 1970, Family Dollar's stock went public for the first time, at $14.50 per share. In 1971, the chain's 100th store opened, followed by their 200th in 1974 and their 300th in 1978. Also in 1974, a distribution center was opened in Matthews, North Carolina. In 1979, Family Dollar stock began trading at the New York Stock Exchange.
In 1981, the chain's 400th store was opened, followed by a 500th store in 1982 and a 700th in 1983. The 1980s saw expansion at a wider scale for the company, and by 1989, 1,500 stores were operating.
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Family Dollar
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. In 2022, Family Dollar was sued by the Arkansas Attorney General following an investigation by the FDA into a rat infestation at its West Memphis, Arkansas, distribution center. The lawsuit ended in a $41 million fine to the company and the temporary closure of 400 stores.
In 2024, Dollar Tree, Family Dollar's parent company, announced that it would consider a potential spin-off or sale of the Family Dollar brand.
On March 26, 2025, Dollar Tree announced that it would sell its Family Dollar business for $1 billion. The sale was completed on July 7, 2025.
Family Dollar was founded in 1959 by Leon Levine, a 21-year-old entrepreneur. In November of that year, the company's first store was opened, in Charlotte, North Carolina. In 1961, their first store in South Carolina opened, followed by stores in Georgia and Virginia, which were opened in 1962 and 1965, respectively. During the 1960s, the store company was largely a southern United States operation. By 1969, there were fifty stores in Charlotte alone.
The 1970s were growing years for the store chain. In 1970, Family Dollar's stock went public for the first time, at $14.50 per share. In 1971, the chain's 100th store opened, followed by their 200th in 1974 and their 300th in 1978. Also in 1974, a distribution center was opened in Matthews, North Carolina. In 1979, Family Dollar stock began trading at the New York Stock Exchange.
In 1981, the chain's 400th store was opened, followed by a 500th store in 1982 and a 700th in 1983. The 1980s saw expansion at a wider scale for the company, and by 1989, 1,500 stores were operating.
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