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Dollarama closes purchase of majority interest in LatAm retailer Dollarcity

Canadian discount store chain Dollarama Inc. said Aug. 15 that it completed its acquisition of a 50.1% interest in Latin American value retailer Dollarcity.

Dollarama did not provide details about the purchase price, but it earlier estimated the deal to be worth $85 million to $95 million.

The company said the deal establishes a "compelling second growth platform" for Dollarama.