Takeover – Kaufland expands – economy

The Federal Cartel Office has given the green light to large-scale discounter Kaufland to take over 22 other Real branches. The takeover was “not a significant obstacle to effective competition in the relevant market areas,” the Competition Authority announced on Friday. Kaufland had already received approval to take over up to 92 Real stores in December. Like Lidl, Kaufland belongs to the Schwarz group. Russian financial investor SCP bought Real’s 270 branches from Metro last year in order to break up the distribution chain and resell it. The split is probably the last chance for established German retail chains to further expand their branch network. Real had achieved a turnover of seven billion euros before the break.

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