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Dollar Tree Acquires 170 99 Cents Only Stores, Some in California – NBC Los Angeles

Dollar Tree will expand to new locations in four states, including California, after acquiring 170 99 Cents Only Stores.

The company announced the move Wednesday, purchasing the rights to 99 Cents Only Stores in Arizona, California, Nevada and Texas. The company did not provide details about the locations in its press release.

Southern California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy in April, beginning the process of divesting its assets, including inventory, real estate and retail leases at all 370 locations. The closures dealt a financial blow to some consumers who struggled to find affordable groceries.

The 99 Cents Only Stores were founded in 1982.

The transaction includes Dollar Tree’s acquisition of the store leases and intellectual property of 99 Cents Only Stores.

Dollar Tree is a variety, discount store that offers items such as party favors, crafts, snacks and cleaning supplies.

“As we continue to execute our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential,” said Michael Creedon, Jr., Chief Operating Officer of Dollar Tree. “The portfolio complements our existing footprint and will provide us with access to high-quality real estate in premium shopping centers, allowing us to rapidly grow the Dollar Tree brand in the Western United States, serving even more customers and communities reaches.”

Dollar Tree, owner of Family Dollar, expects to welcome customers to its stores as early as the fall. The transaction will allow the East Coast-based retailer to expand its West Coast and Southwest operations without building new stores.

Dollar Tree acquired Family Dollar in 2015 for more than $8 billion.

In March, Dollar Tree and Family Dollar announced the closure of nearly 1,000 stores. That plan included 600 Family Dollar stores in the first half of 2024 and 370 Family Dollar and 30 Dollar Tree stores in the coming years.

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