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19-Sep-2015 19:30

Dollar Tree's biggest move came in 2014, when it proposed to acquire its larger rival Family Dollar for more than billion.

Industry leader Dollar General made a more generous competing offer, but the board of Family Dollar resisted, saying that deal would not pass antitrust scrutiny.

In 1996 the company acquired the Dollar Bills chain, which added 136 additional stores, many of them in urban areas Dollar Tree had previously avoided.

It also built a new headquarters in Chesapeake, Virginia.Focusing on the South, Levine expanded the chain to more than 50 stores by the time he took the company public in 1970.Over the following decade, Dollar Tree continued to grow by purchasing other deep discounters such as Only $ One, Dollar Express, Greenbacks Inc. By the time the Great Recession started in 2008, it had more than 3,400 stores in 48 states and annual revenues of .6 billion.Subsequent years saw continuing growth, including entry into Canada with the 2010 acquisition of the Dollar Giant chain.

Dollar Tree completed the acquisition in July 2015, increasing its collection of stores to more than 13,000 and its combined revenue to about billion.The Family Dollar chain dated back to 1959, when Leon Levine opened the first store in Charlotte to serve lower income customers.