Family Dollar has long been an anchor dragging at Dollar Tree. That's over now.

It's a new day for Dollar Tree. The discount chain said Wednesday that it has reached a deal to sell its long-struggling Family Dollar chain to a private equity company in a deal worth $1 billion.The sale comes a decade after the company bought the smaller chain for$8 billion in 2015, beating out Dollar General for the deal, but ultimately losing ground against its now-larger rival. "Basically, Dollar Tree bit off far more than it could chew," Global Data retail analyst Neil Saunders said in a note.Saunder ...