Dollar Tree acquires Greenbacks
June 30, 2003-- Home Textiles Today,
Chesapeake, VA — Dollar Tree Stores has acquired 100-unit $1.00 retailer Greenbacks for approximately $100 million in cash.
Greenbacks, which operates in 10 states in the Rocky Mountain region, produced $127.5 million in sales during 2002 on a six-days-a-week schedule. The acquisition will boost the number of Dollar Tree Stores to 2,441 units in 47 states.
The deal will add 2 cents to 3 cents to Dollar Tree's fiscal 2003 earnings per share, the company said.
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