BMG Response To Family Dollar Sale

Commercial Real Estate Fund Remains Focused on Discount Retail

Richmond, Virginia, March 27th, 2025- Battle Monument Group, a private real estate fund focused on Discount Retail stores, responded to recent news of the sale by Dollar Tree (NASDAQ: DLTR) of its Family Dollar business.

During their earnings call on March 26 DLTR announced a pending sale of Family Dollar to PE Firms Brigade Capital Management and Macellum Capital Management.  Specific details of the sale are emerging, with a transaction value stated at roughly $1 Billion.  DLTR originally purchased Family Dollar in 2015 for an estimated $8 Billion.

Executives at Battle Monument Group (BMG) had been anticipating the sale based on earlier guidance from DLTR.  BMG is not heavily exposed to the fallout from the sale.

“We are fortunate – our team recognized some areas of concern with the Family Dollar brand several years ago,” said John Oliver, Managing Partner at BMG.  “We own 7 Family Dollar properties, within a portfolio of more than 180 total properties.  We will watch closely for any impact to those 7 sites, but we feel secure that our focus on unit-level fundamentals has protected our investors.”

Over the course of 10+ years BMG has increasingly treated Dollar General (DG) as the prime tenant in the growth of their portfolio.  Following the merger of DLTR with Family Dollar, the two leading companies in the Dollar-Store retail space expanded rapidly, building thousands of new stores in some recent years.  BMG currently owns more than 170 DG properties and expects to continue acquiring more of their preferred tenant’s properties.

“We’ve known for a while that DG was the clear winner in the Discount Retail “Cold War”, said Mike Brumagin, Co-Founder and Fund Manager at BMG.  “We hope that Family Dollar will become a healthier retailer under its new ownership.  In the meantime, we intend to grow with the same proven strategy.”

BMG prides itself on consistency of investor distributions, and on an approach designed to pick the most stable assets in a highly competitive arena.

“Our investing strategy is built to protect the hard-earned capital of our investors,” said Peter Stark, Fund Manager.  “We have an extraordinary team with deep insights within our area of specialization.”