By Connor Hart
Duncan MacNaughton will serve as chief executive of Family Dollar following its sale to a consortium of private-equity investors.
His appointment comes after Dollar Tree in March said it would sell its Family Dollar business to Brigade Capital Management and Macellum Capital Management for roughly $1 billion. The transaction is expected to close in the second quarter, subject to customary conditions.
MacNaughton, who will additionally serve as chairman of Family Dollar's board, most recently served as the discount-retail chain's chief operating officer. He has more than 30 years of experience leading large-scale business through growth and transformation, the Chesapeake, Va., company said Monday.
Jason Nordin, who has been helping lead the Family Dollar organization, will continue to serve as the company's president. He will work closely with MacNaughton to guide Family Dollar's long-term strategic direction and operations, the company said.
Dollar Tree acquired the Family Dollar chain in 2015 for roughly $9 billion, but the business struggled to grow in the years that followed despite continued investments. In the midst of a broader turnaround, Dollar Tree last summer tapped bankers to conduct a strategic review of the division.
Despite having similar names and operations, Dollar Tree and Family Dollar serve different customers. Dollar Tree stores are mostly in suburban locations and cater to middle-income households seeking party supplies, crafts or other knickknacks, while Family Dollar locations are more concentrated in urban areas and sell groceries, cleaning products and other essential items.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 19, 2025 17:06 ET (21:06 GMT)
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