On November 9, 2017, Dollar General Corporation (NYSE:DG) announced that it had entered into a definitive agreement to be acquired by private-equity firm Apollo Global Management, LLC. The deal is valued at $8.
4 billion, and is expected to be completed in the first quarter of 2018.
Dollar General is the ninth-largest U.S. retailer with fiscal year 2017 sales of $27.4 billion. The company operates more than 2,600 stores in 28 U.
states and the District of Columbia. Dollar General has been struggling in recent years, posting a decline in net income in each of the past four fiscal years. However, the company’s sales growth has slowed in recent years, and the company has been losing market share to larger rivals like Walmart and Target. Dollar General’s purchase by Apollo Global Management is likely to help the company reverse its decline and improve its competitive position.
