Dollar Tree Buys Deal$ Stores

The acquired chain will operate under its own name.
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Dollar Tree Stores

(DLTR) - Get Report

completed its acquisition of the Deal$-Nothing Over a Dollar chain.

Chesapeake, Va., Dollar Tree said it got 138 stores, leasehold rights and certain intellectual property for about $30.5 million in cash. It also purchased about $22.2 million of inventory. Deal$ was a unit of

SuperValu

(SVU)

.

Deal$ stores offer general merchandise, contemporary seasonal goods and everyday consumables. Dollar Tree Stores now operates 3,097 stores in 48 states, including 2,959 Dollar Tree Stores. Substantially all Deal$ stores will continue to operate under the Deal$ banner.

"We are very excited about the opportunities that this acquisition provides," the company said. "Not only will we be expanding our presence in the Midwest and Southeast regions, but the Deal$ acquisition includes some excellent store locations, along with a seasoned and dedicated sales force that provides great customer service."

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