Family Dollar
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Family Dollar 50th Anniversary Flagship Store, Charlotte, North Carolina.
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| Subsidiary | |
| Industry | Retail, Variety, Discount |
| Founded | 1959 in Charlotte, North Carolina |
| Founder | Leon Levine |
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Area served
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United States |
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Key people
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Gary Philbin, President & CEO Howard R. Levine, Chairman |
| Products | Clothing, Cleaning supplies, Home decor, and Grocery. |
| Parent | Dollar Tree (2015–present) |
| Website | www |
Family Dollar Stores Inc. is an American variety store chain in the United States. With over 8,000 locations in all states except Alaska, Hawaii, Oregon and Washington, it is the second largest retailer of its type in the United States. Family Dollar is headquartered in Matthews, a suburb of Charlotte, North Carolina, where it employs 1,400 people.
In June 2014, activist investor and major shareholderCarl Icahn demanded that Family Dollar be immediately put up for sale.
On July 28, 2014, Dollar Tree announced that it would purchase Family Dollar for $8.5 billion. The sale delivered a windfall to the company's biggest shareholder Carl Icahn, who acquired his 9.4 percent stake in June 2014. On January 22, 2015, Family Dollar shareholders approved the Dollar Tree bid.
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 .
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Wikipedia