Dollar Tree to Benefit From Ollie’s Sale

CHESAPEAKE, Va. — Dollar Tree here said that it would realize an earnings benefit of 16 cents to 17 cents per share during the third quarter as a result of selling its interest in the closeout retailer Ollie’s Holdings.

Ollie’s Holdings, based in Harrisburg, Pa., said its management and CCMP Capital Advisors had completed an acquisition valuing the retailer at $700 million. Dollar Tree originally invested in Ollie’s in 2003.

Ollie’s operates 127 stores in 13 states doing business as Ollie’s Bargain Outlet.

More news: Dollar Tree Sticks With Basic Groceries [2]

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