Dollar
Tree Completes Acquisition of Deal$ Stores
CHESAPEAKE,
Va. - March 29, 2006 - Dollar Tree Stores, Inc. (NASDAQ: DLTR), the nation's
largest $1.00 discount variety store chain, today announced that it has
completed its acquisition of 138 stores and related assets of the Deal$-Nothing
Over a Dollar chain, which was owned by SUPERVALU INC. (NYSE:SVU).
Under
the
terms of the agreement, Dollar Tree acquired 138 Deal$ stores including store
assets, leasehold rights and certain intellectual property for approximately
$30.5 million in cash. In addition, Dollar Tree has purchased approximately
$22.2 million of inventory, subject to verification, from Deal$. Substantially
all Deal$ stores will continue to operate under the Deal$ banner, and they
will
provide an opportunity to leverage the Dollar Tree infrastructure.
Based
in
St. Louis, MO, Deal$ stores offer a wide assortment of quality general
merchandise, contemporary seasonal goods and everyday consumables. The stores
average 11,000 gross square feet and operate in 16 states: Alabama, Arkansas,
Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Missouri, Ohio,
Oklahoma, Pennsylvania, Tennessee, West Virginia and Wisconsin.
"We
are
very excited about the opportunities that this acquisition provides,” said Bob
Sasser, President and CEO. “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.”
With
the
completion of this acquisition, Dollar Tree Stores, Inc. now operates 3,097
stores in 48 states, including 2,959 Dollar Tree Stores and 138 Deal$
stores.
A
WARNING
ABOUT FORWARD LOOKING STATEMENTS: This press release contains "forward looking
statements" as that term is used in the Private Securities Litigation Reform
Act
of 1995. Forward looking statements address future events, developments or
results and typically use words such as believe, will, anticipate, expect,
intend, plan, forecast, outlook, or estimate. For example, our forward looking
statements include statements regarding the terms of the transaction and its
impact on the combined businesses. For a discussion of the risks, uncertainties
and assumptions that could affect our future events, developments or results,
you should carefully review the "Risk Factors," "Business," and "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
sections in our Annual Report on Form 10 K filed April 14, 2005 and the
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" section of our Quarterly Report on Form 10-Q filed December 8,
2005.
Also, carefully review "Risk Factors" in our most recent prospectuses filed
November 15, 2000 and August 3, 2000. In light of these risks and uncertainties,
the future events, developments or results described by our forward looking
statements in this document could turn out to be materially and adversely
different from those we discuss or imply. We are not obligated to release
publicly any revisions to any forward looking statements contained in this
press
release to reflect events or circumstances occurring after the date of this
report and you should not expect us to do so.
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CONTACT:
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Dollar
Tree Stores, Inc., Chesapeake
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Timothy
J. Reid
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757-321-5284
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www.DollarTree.com
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