Business Briefs

Direct Auto holds Back-to-School Bash

Direct Auto Insurance, with an office in Newnan, held its Back-to-School Bash July 26.

Visitors to the Bullsboro Drive office could get free backpacks and school supplies. For the past three years, the insurance company has been devoting about a month of the school summer holiday, from July 19 to Aug. 16, to giving back to their customers, according to company representatives.

During the month-long event, anyone who visits any of the company’s locations and receives a free quote receives a free school supply kit, said Sam Curley with Direct Auto.

Parents were also be able to enter a free sweepstakes for a $250 gift card to help pay for school materials, and could nominate their favorite school for a chance to win a $250 shopping spree, Curley said.

In 2013, the National Retail Federation found the average parent spent more than $634 on school supplies, school clothing and electronics. 

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Dollar Tree buying Family Dollar

Dollar Tree Inc. announced Monday the company will acquire Family Dollar in a merger for about $8.5 billion in cash and stock.

The company will operate more than 13,000 stores across 48 states and five Canadian provinces, and more than 145,000 associates.

Plans are to continue to operate and grow both the Dollar Tree and Family Dollar brands.

The value of the consideration is $74.50 per share, a 22.8 percent premium over Family Dollar's closing price as of July 25, 2014, according to a release on Dollar Tree’s corporate website.

The transaction, unanimously approved by the boards of directors of both companies, is expected to close by early 2015, when Family Dollar shareholders will receive $59.60 in cash and $14.90 equivalent in Dollar Tree shares.

At closing, Family Dollar shareholders will own no less than 12.7 percent and no more than 15.1 percent of the outstanding common stock of Dollar Tree.

Howard R. Levine and Trian Fund Management, L.P. and funds managed by it, which collectively own approximately 16 percent of the outstanding stock of Family Dollar, entered into voting agreements in support of the merger.

"This is a transformational opportunity," stated Bob Sasser, Dollar Tree's Chief Executive Officer.

“We will continue to operate under the Dollar Tree, Deals, and Dollar Tree Canada brands, and when this transaction is complete, we will operate under the Family Dollar brand as well,” he said.

“Throughout our history, we have strived continuously to evolve and improve our business. This acquisition, which enhances our footprint and diversifies our company, will enable us to build on that progression, and importantly, positions Dollar Tree for accelerated growth,” he said. “By offering both fixed-price and multi-price point formats and an even broader, more compelling merchandise assortment, we will be able to provide even greater value and choice to a wider array of customers.”

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Belk rocks the back-to-school scene

Belk gears up for the back to school season with a concert style sweeps, denim donation event and more.

Winners of Belk’s southern musician showcase are featured throughout the company’s promotions talking about their favorite back-to-school fashions. The company is incorporating its “Modern. Southern. Music.” campaign into the back-to-school season by launching a concert style sweeps offering a chance to win an all-expenses paid trip for four to any 2014 Live Nation concert in the U.S. 

Belk will include a $1,000 Belk gift card and $500 spending money in the prize package. To enter, take a personality test on resulting in four concert styles. Increase chances to win by sharing the results on Facebook, Twitter and Instagram.The promotion runs to Sept. 15.

Also, through Aug. 3, customers can bring in one or more pairs of gently used jeans to donate to the United Way and receive a $5 coupon that can be used toward a new pair of junior jeans. United Way will distribute the donated jeans to local students in need. 

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