CHESAPEAKE, Va. — Dollar Tree, Inc., North America's leading operator of discount variety stores, says they will close as many as 390 Family Dollar locations in 2019.

The announcement was made Wednesday by the company's president and CEO, Gary Philbin.

Philbin says they are also planning to convert 200 Family Dollar stores to Dollar Tree locations.

Dollar Tree acquired Family Dollar in 2015 for nearly $9 billion in cash and stock. 

“We are confident in our progress and we have good momentum," said Philbin. "Approximately 200 Family Dollar stores will be re-bannered to Dollar Tree, and we plan to close as many as 390 Family Dollar stores this year." 

The list of locations closing has not been released.