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Dollar Tree on Wednesday said it has reached a deal to sell its Family Dollar brand to a pair of private-equity firms for $1 billion.

Dollar Tree is ending its short-lived and ill-fated Family Dollar experiment, offloading the discount brand for $1 billion – just a fraction of its purchase price from a decade ago.

Dollar Tree said it has agreed to sell its Family Dollar division to a group of private equity firms in a deal valued at approximately $1 billion.

Dollar Tree is selling Family Dollar to a pair of private equity firms in a deal worth approximately $1 billion after unsuccessfully trying to incorporate it into its business for a decade.